Forex Trade Alert.

Forex Market Overview for Thursday Oct. 30. 2008.

We have a nice forex trends yesterday, but we decide not to trade because US interest rates announcement. Federal Reserve Chairman, cut interest rates 50 points and we’re seeing a reverse in every single currency pair. Question now, did JPY and USD run are over? We have to be patient couple more days to confirm that trend is changing. Markets around the world are still very volatile. Every single government around the world trying to stabilize their markets. We’re very concerned about USA election to.
We believe and many others on a wall street that Obama is going to win election, and he’s the only candidate in history who saying he’s going to raise taxes on people who making more than $250,000 a year. Most of those people invest their money in stocks, and they pulling it out now before Mr. Obama have a chance to tax them. This is why we still believe market in United States cannot recover yet but in any case if U.S. stock market goes up we going to sell the USD and JPY ( BUY EUR/USD, GBP/USD, EUR/JPY, GBP/JPY, AUD/USD, NZD/USD .. SELL USD/CAD, USD/CHF ….) If U.S. market go down We going to buy USD and JPY (SELL EUR/USD, GBP/USD, EUR/JPY, GBP/JPY, AUD/USD, NZD/USD……SELL USD/CAD, USD/CHF….). We have to be patient and wait and see. You can take some of the TRADES in the direction of the arow, but be careful if you in the winning position and something unexpected come out, You don’t have to wait to sell or buy back your position.

REMEMBER: NEWS OVERRIDES TECHNICAL ANALYSES !!!!!!!!
http://www.4xgenie.com/News_Charts.html

FOREX TRADE ALERT

Tags: comptroller of the currency, forex charts, automated forex trading, office of the comptroller of the currency, currency exchanger, currency translation, south african currency

Trade Alert for - Symbol NZD/USD

<Trade Alert for Monday Oct 06, 2008>

Wave 5 could drop down to 0.5694. The support level of 0.6381 was broken when prices closed below the middle pitchfork line. The market seems to be weakening. Today’s candlestick has broken out of the yellow shaded area of the chart and below the lower pivot band. This is very bearish! The CCI is below -100. This currency pair NZD/USD is oversold at this time.

MONTHLY PIVOT ALERT: Support level of 0.6427 was broken today. When the monthly S1 ( support level 1 ) is broken - we can look for a possible drop to the monthly S2 ( support level 2).

Trade Alert for - Symbol GBP/JPY

<Trade Alert for Monday Oct 06, 2008>

Wave 3 could drop down to 166.1100 or to 146.6730. The support level of 184.4775 was broken when prices closed below the middle pitchfork line. The market seems to be weakening. Today’s candlestick has broken out of the yellow shaded area of the chart and below the lower pivot band. This is very bearish! The CCI is below -100. This currency pair GBP/JPY is oversold at this time.

MONTHLY PIVOT ALERT: Support level of 176.8700 was broken today. When the monthly S2 ( support level 2 ) is broken - we can look for a possible drop to the monthly S3 ( support level 3). This is extremely bearish.

Trade Alert for - Symbol EUR/USD

<Trade Alert for Monday Oct 06, 2008>

Wave C could drop down to 1.2711. NOTE: This is a very strong bearish sign with the lower pivot band falling lower and with today’s close below the lower pivot band. The CCI is below -100. This currency pair is oversold at this time.

MONTHLY PIVOT ALERT: Support level of 1.3713 was broken today. When the monthly S1 ( support level 1 ) is broken - we can look for a possible drop to the monthly S2 ( support level 2).

Trade Alert for - Symbol GBP/USD

<Trade Alert for Monday Oct 06, 2008>

Wave 5 could drop down to 1.7320 or to 1.6484. The support level of 1.7510 was broken when prices closed below the middle pitchfork line. The market seems to be weakening. Today’s candlestick appears in the yellow shaded area of the chart. This reflects strong consolidation here! The CCI is below -100. This currency pair GBP/USD is oversold at this time.

Trade Alert for - Symbol AUD/USD

<Trade Alert for Monday Oct 06, 2008>

Wave 3 could drop down to 1.1073. The support level of 1.1397 was broken when prices closed below the top pitchfork line. The market has moved back into the trading channel. NOTE: This is a very strong bearish sign with the lower pivot band falling lower and with today’s close below the lower pivot band. The CCI is below -100. This currency pair AUD/USD is oversold at this time.

MONTHLY PIVOT ALERT: Support level of 1.1422 was broken today. When the monthly S2 ( support level 2 ) is broken - we can look for a possible drop to the monthly S3 ( support level 3). This is extremely bearish.

Trade Alert for - Symbol EUR/JPY

<Trade Alert for Monday Oct 06, 2008>

Wave 3 could drop down to 133.9000 or to 119.6772. The support level of 141.0183 was broken when prices closed below the bottom pitchfork line. The market is beginning to fall out. NOTE: This is a very strong bearish sign with the lower pivot band falling lower and with today’s close below the lower pivot band. A divergence in the MACD indicator has been found. The current downward trend may soon correct or end. The CCI is below -100. This currency pair EUR/JPY is oversold at this time.

MONTHLY PIVOT ALERT: Support level of 139.4533 was broken today. When the monthly S2 ( support level 2 ) is broken - we can look for a possible drop to the monthly S3 ( support level 3). This is extremely bearish.

Important Notice

When trading it is important to know your risks. If you have only been trading for a short time it is highly recommended that you start with a demo account first. Forex trading is highly risky and normally it takes 3 - 5 years to become a successful forex trader. Only risk that which you can easily afford to lose. Forex trading is not a get rich quick scheme, but if managed carefully, it is an excellent investment.

REMEMBER: NEWS OVERRIDES TECHNICAL ANALYSES !!!!!!!!
http://www.4xgenie.com/News_Charts.html

FOREX GENIE