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Forex Summary Report for EUR Currency Pairs

Forex Trade Alert EUR/USD and USD/JPY

Euro

The euro is in a strong primary down-trend. Talk of Greece being rescued by France and Germany may help to stem the decline at the $1.36 support level. Expect a test of the declining (orange) trendline. Breakout above the declining trendline on Momentum Oscillator (63-day) may provide advance warning of a trend change.

MONTHLY PIVOT ALERT: Support level of 1.3624 was broken today. When the monthly S1 is broken – we can look for a possible drop to the monthly S2 @ 1.3385.

The [R3] or the most extreme high trading range is 1.3860.

The [R2] or the extreme high trading range is 1.3777.

The [R1] or the high trading range is 1.3697.

The [P] or pivot point is 1.3614.

The [S1] or the low trading range is 1.3534.

The [S2] or the extreme low trading range is 1.3451.

The [S3] or the most extreme low trading range is 1.3371.

Japanese Yen

The Dollar is undergoing a correction against the yen, after making a new high in early January. Recovery above 93.00 would confirm a primary up-trend. Look for early warning from

Momentum Oscillator (63-day) crossing above the declining (purple) trendline.

The [R3] or the most extreme high trading range is 91.22.

The [R2] or the extreme high trading range is 90.81.

The [R1] or the high trading range is 90.39.

The [P] or pivot point is 89.98.

The [S1] or the low trading range is 89.56.

The [S2] or the extreme low trading range is 89.15.

The [S3] or the most extreme low trading range is 88.73.

4xGenie Support Team

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Forex Trade Alert EUR/USD and USD/JPY

The US Dollar Index

The US Dollar Index is in a primary up-trend, having broken through 80.5, and offers a target of 90.0. Reversal below the rising trendline is unlikely, but would warn of a test of primary support at 76.5.

Gold

Crude Oil

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US Dollar Index, Gold and Crude Oil Outlook

FOREX OUTLOOK for EUR/USD, AUD/USD, GOLD, CRUDE OIL and US DOLLAR INDEX.

Gold

Gold retreated below short-term support at $1120 after breaking the rising trendline on the price chart and on Momentum Oscillator (5-day). Expect a test of primary support at $1080. Reversal above $1140 is unlikely, but would signal an advance to $1220.

Crude Oil

Crude retreated below the rising (green) trendline, signaling trend weakness. Also, the long-term Momentum Oscillator (13-week) displays a large bearish divergence, warning of a reversal. Failure of primary support at $72 would confirm.

Euro – EUR/USD

The primary cause of dollar strength is the euro, which broke through support at $1.42 — signaling the start of a primary down-trend. The Momentum strengthens the reversal signal. The initial target for the decline is $1.38.

Current Day Trading Session:

Momentum is continuing downward at the present time.

Next Day Trading Session:

If the next day’s close is above 1.4449 then that could be a sign that the current downward momentum is reversing.

Australian Dollar – AUD/USD.

The Aussie dollar is also weakening against the greenback after respecting resistance at $0.93. It is too early to tell whether this will resolve into a test of primary support at $0.875 or a re-test of resistance at $0.93. Upward breakout now appears unlikely, but would signal an advance to $0.98.

Current Day Trading Session:

Momentum is continuing downward at the present time.

Next Day Trading Session:

If the next day’s close is above 0.9340 then that could be a sign that the current downward momentum is reversing.

US Dollar Index

The US Dollar Index is testing resistance at 78.5. Breakout would signal reversal to a primary up-trend — and advance to 80. Momentum Oscillator (5-day) also favors an up-trend. Reversal below support at 76.6 is unlikely, but would warn of test of primary support at 74.

4xGenie Support Team

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FOREX OUTLOOK for EUR/USD, AUD/USD, GOLD, CRUDE OIL and US DOLLAR INDEX

Forex Trade Alert for GBP/USD

Pound Sterling 10.23.2009.

The pound is strengthening as a result of efforts being made to reduce government debt. Breakout above $1.66 would offer a medium-term target of $1.70.

4xGenie‘s Members Receve Alert to Buy GBP/USD @ 1.6117

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Trading Ranges.

The [R3] or the most extreme high trading range is 1.7154.

The [R2] or the extreme high trading range is 1.6895.

The [R1] or the high trading range is 1.6760.

The [P] or pivot point is 1.6501.

The [S1] or the low trading range is 1.6366.

The [S2] or the extreme low trading range is 1.6107.

The [S3] or the most extreme low trading range is 1.5972.

4xGenie Support Team

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Forex Trade Alert for GBP/USD | Forex OutLook for Pound Sterling

Forex Trade Alert.

Gold Rise As Dollar Falls

Gold,  USD/JPY,  Dollar Index

Gold

Spot gold shows signs of an accelerating up-trend, after three trendlines of increasing slope. Retracement respected support at $1040 and breakout above $1070 would indicate an advance to $1100. Reversal below $1040 is unlikely, but would test $1000. In the long term, the break above $1000 offers a target of $1300; failure of support at $985 is unlikely, but would warn of a primary trend reversal.

The only bearish sign is a divergence on Momentum Indicator (14-day), warning that the Market Vectors Gold Miners Index [GDX] has encountered selling pressure. Breakout above $50 would confirm the rise in spot gold, while reversal below $43 would signal a secondary correction (and bearish sign for gold). Divergences between gold miners and physical gold often forewarn of changes in the spot price.

Dollar Fall Continues

US Dollar Index

The US Dollar Index is consolidating in a narrow band below resistance at 76. In the short term, expect a test of 74.50. Reversal above 77.50 is most unlikely, but would indicate that the down-trend has ended. The greenback is replacing the yen as the favorite weak currency used for carry trades. Hedge funds effectively borrow dollars then sell them to invest in a high-yielding currency like the Australian Dollar, pocketing the interest rate spread — and reinforcing the dollar’s downward spiral.

Japanese Yen

The dollar respected short-term resistance at 90.00 and is likely to test the 2008 low of 87.00. Breakout above the declining trendline (and 90.00), however, would warn of a rally to test the upper channel border. In the long term, breakout below 87.00 would offer a target of 80.00.

MONTHLY PIVOT ALERT: Support level of 90.44 was broken today. When the monthly pivot point is broken – we can look for a possible drop to the monthly S1 ( support level 1).

TRENDLINE ALERT: Support level of 90.34 was broken today. Look for a possible drop to the next support level.

Next Day Trading Ranges for Tuesday Oct 20, 2009

The [R3] or the most extreme high trading range is 91.14.

The [R2] or the extreme high trading range is 90.96.

The [R1] or the high trading range is 90.64.

The [P] or pivot point is 90.46.

The [S1] or the low trading range is 90.14.

The [S2] or the extreme low trading range is 89.96.

The [S3] or the most extreme low trading range is 89.64.

Current Day Trading Session:

No signs of downward momentum at this time.

Next Day Trading Session:

If the next day’s close is below 89.85 then that could be a sign that new downward momentum is beginning.

4xGenie Support Team

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Forex Market Outlook | Forex Market Recap for USD/JPY, Gold and Dollar Index

FOREX MARKET OUTLOOK.

FOREX MARKET RECAP for EURO, DOLLAR INDEX and GOLD.

EURO

The euro is testing short-term resistance at $1.48; breakout is likely and would signal an advance to $1.50. Reversal below $1.44 is unlikely, but would warn of trend weakness — as would penetration of the rising trendline. In the long term, breakout above $1.50 would signal an advance to the 2008 high of $1.60.

GOLD

Spot gold is consolidating between $1000 and $1020; a bullish sign. Continued respect of the new support level reinforces the signal. The weakening dollar also favors a primary up-trend. Breakout above $1000 would indicate a primary advance to $1100. Failure of support at $1000 is unlkely but would warn of a potential bull trap. The long-term target for the breakout is $1300.

THE US DOLLAR INDEX

The US Dollar Index is consolidating above short-term support at 76; a bullish continuation pattern. Breakout above the declining trendline is unlikely but would warn that the primary down-trend is weakening. The medium-term target for the current down-swing is 74.

4xGenie Support Team

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FOREX MARKET OUTLOOK | FOREX MARKET RECAP for EURO, DOLLAR INDEX and GOLD

CURRENCIES CONSOLIDATE

Forex Trade Alert Signal for 08.21.2009

Euro

The euro has been edging upwards since early June, but this is more consolidation than trend, with the currency slipping below the new support level of $1.43. Recovery (above $1.43) would signal that the gradual up-trend is likely to continue, while breakout below the trend channel would warn of reversal to a primary down-trend. Penetration of support at $1.38 would confirm the down-trend and target the April low of $1.29.

British Pound

The pound is consolidating in a narrow band between $1.60 and $1.66 against the greenback. The failed breakout in early August indicates weakness and failure of support at $1.60 would confirm reversal to a primary down-trend. Continued currency debasement by the Bank of England should ensure that the pound weakens against major trading partners.

Japanese Yen

The dollar is testing support at ¥94 after retreating from the upper trend channel. Penetration of support would indicate a test of the lower channel around ¥90. Again, the trend is gradual, edging lower rather than a strong decline, possibly due to BOJ support for the dollar.

Australian Dollar

The Aussie dollar is testing the new support level at $0.82 against the greenback. Respect of support would indicate a primary advance with a target of $0.90*, while failure would test primary support around $0.7650. Recent commodity price weakness, as indicated by the decline of the CRB Commodities Index, is likely to prevent further advance of the little battler — unless we see recovery above the August peak at 269.

FOREX GENIE SUPPORT TEAM

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FOREX TRADE ALERT for EUR/USD, GBP/USD, USD/JPY, AUD/USD | CURRENCIES CONSOLIDATE

MARKET OUTLOOK ALERT

FOREX TRADE ALERT for US DOLLAR INDEX, GOLD, SILVER, CRUDE OIL.

TRADE ALERT for GOLD.

Spot gold broke through resistance at 950, but the tall shadow and weak close are unconvincing. Follow-through above $960 would confirm that the correction is over, while reversal below $940 would signal continuation — and a likely test of primary support at $865. In the long term, breakout above $1000 would signal a primary advance with a target of 1100, while failure of primary support at $865 would test the November 2008 low of $700.

TRADE ALERT for SILVER.

Spot silver rallied to test medium-term resistance at $13.80; breakout from the trend channel indicating that the secondary correction is weakening. Respect of resistance would test support at $12.50. The correction is not over, however, until we see a higher trough followed by a new high. In the long-term, penetration of support at $11.80 would warn of a primary down-trend, while respect of primary support would indicate another test of $16.

TRADE ALERT for CRUDE OIL.

Crude oil and commodities prices rallied sharply, but remain in a secondary correction. Brent crude breakout above $67/barrel would indicate that the correction is weakening, while respect of resistance would signal another down-swing. The primary trend remains upward — assisting precious metal prices as inflation fears rise.

TRADE ALERT for US DOLLAR INDEX.

A down-turn in the US Dollar Index would also boost precious metal prices. Breakout from the narrow consolidation between 79.50 and 81 will test primary support at 78.50. Failure of support would warn of another primary decline, targeting the lower channel border. Recovery above 81 is most unlikely, but would signal a test of the March low at 83.

“I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them”. ~ Tomas Jefferson (1743 – 1826) 4xGenie Support Team

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GOLD, SILVER, CRUDE OIL and US DOLLAR INDEX | MARKET OUTLOOK

and UD DOLLAR INDEX

FOREX TRADE ALERT: US Dollar Index

The US Dollar Index is testing support after consolidating in a narrow band between 79.50 and 81 for several weeks. Downward breakout, in the direction of the primary trend, is more likely and would warn of a decline with a target of 73. Penetration of support at 78.50 would confirm. Upward breakout is not expected, but would test resistance from the March low at 83.

Dollar Triangle Against The Euro.

Euro.

The euro displays a triangular consolidation against the greenback — a continuation pattern. Breakout above resistance at $1.42 would signal another primary advance with a target of $1.50. Reversal below $1.38 is unlikely, but would warn that the up-trend is weakening.

Japanese Yen.

The dollar pulled back to test the new resistance level after downward breakout below ¥94 [orange]. Recovery above the upper trend channel/long-term moving average would warn of a bear trap, while respect of the upper trend channel would signal another down-swing. In the longer term, expect a test of the December low of ¥87.

Australian Dollar.

The Aussie dollar recovered above support at $0.78 after a marginal break gave a false bear signal. An up-turn on the CRB Commodities Index is a positive sign for the resource-rich currency. Expect a test of resistance at $0.82. Upward breakout is now likely, and would offer a target of the September 2008 high at $0.85. Reversal below $0.77 is unlikely, but would test support at $0.70.

4xGenie Support Team

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FOREX TRADE ALERT for USD/JPY, EUR/USD, AUD/USD and US DOLLAR INDEX