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

Forex Trade Alert for Wednesday Aug 06, 2008.

A buy signal was confirmed when this currency pair GBP/JPY closed above 213.26 on Aug-06-2008. 4XGENIE Action: ==> Buy this currency pair GBP/JPY at 213.54. Stop at 210.15. Wave 5 could rise up to 220.75 or to 223.67. NOTE: The width of the Bollinger Bands has started to narrow which indicates that prices are beginning to consolidate.

Next Day Trading Ranges for Wednesday Aug 06, 2008.

The 20 day moving average of the daily trading range is 193 pips and the 60 day moving average of the daily trading range is 191 pips. This shows that volatility has increased in the short term. The percentage of updays when the open/low ratio is less than 25% is 47.86 percent. This means that if this currency pair GBP/JPY does not drop more than 48 pips from the opening price then there is a 47.86 percent chance that this will be an upday.

Monthly Pivots.

The [R3] or the most extreme high trading range is 216.92.

The [R2] or the extreme high trading range is 215.43.

The [R1] or the high trading range is 214.46.

The [P] or pivot point is 212.97.

The [S1] or the low trading range is 212.00.

The [S2] or the extreme low trading range is 210.51.

The [S3] or the most extreme low trading range is 209.54.

Next Day Alternate Stops for Wednesday Aug 06, 2008.

The red line to the right on your chart is an extreme support or resistence level for the next trading day.

A good alternative stop is one which is placed just beyond this extreme support/resistance level.

In this particular case if the price drops below 210.51 then that would show momentum against 4xGenie’s long position and that would be a break out to the downside.

Please Note: These support/resistance levels are calculated by using the previous day’s trading range. Normal volatility may cause a breakout of this value once every 4 or 5 days when prices consolidate.

Current Day Trading Session:

No signs of upward momentum at this time.

Next Day Trading Session:

If the next day’s close is above 213.54 then that could be a sign that new upward momentum is beginning.

FOREX GENIE