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

The euro broke through resistance at 1.50

Forex Trade Alert For EUR/USD

5th Wave Up EUR/USD As of Dec-04-2009.

The euro broke through resistance at $1.50 before retracing to test the new support level. Respect would offer a short-term target of $1.53. Momentum holding above zero confirms a strong up-trend; the bearish divergence so far indicates consolidation, but reversal below zero (while unlikely) would signal a correction. Expect a test of $1.60 in the medium to long-term.

4xGenie Action: ==> Remain out of this market! Today’s candlestick appears

in the yellow shaded area of the chart. This reflects strong consolidation here! A divergence in the MACD indicator has been found. When this appears on a 5th wave this could be a sign of exhaustion. The current upward trend may soon correct or end. The CCI has crossed below 100. Look for falling prices soon.

Next Day Trading Range.. High: 1.5070 Low: 1.5041

Next Day Breakout Points High: 1.5083 Low: 1.5025

Current Day Trading Session:

Momentum is continuing upward at the present time.

Next Day Trading Session:

If the next day’s close is below 1.5033 then that could be a sign that the current upward momentum is reversing.

4xGenie Suport Team.

No Buy or sell Recommendation !!!

Senator Bunning to Bernanke “You are the definition of a moral hazard. Your Fed has become the Creature From Jekyll Island”

Visit msnbc.com for breaking news, world news, and news about the economy

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Forex Trade Alert for EUR/USD

(Click to Enlarge)

 US Dollar Index and Spot Gold Outlook.

Gold Rallies As Dollar Declines.

US Dollar Index

The US Dollar Index broke through resistance at 76 before consolidating in a narrow band. Consolidation above the new support level is a continuation signal, indicating a test of 77.50, but the index is once again testing support at 76 after a false breakout. Respect of support would signal that the primary down-trend is weakening, while failure would again test support at 75. In the longer term, breakout above 77.50 would indicate that the down-trend has ended. Reversal below 75, on the other hand, would offer a target of 74.

Spot Gold

Spot gold rallied sharply on news that the Reserve Bank of India, normally an astute buyer, purchased 200 tons from the IMF (WSJ). The short-term target is $1100, but we could see further retracement to gauge support at $1000 before the long-term target of $1300 is tested.

Gold miners are lagging rather than leading spot gold as they normally do. The Market Vectors Gold Miners Index [GDX] is headed for a test of the upper trend channel at $50. The broadening wedge over the last 2 months is a bullish continuation pattern. Reversal below $41 is most unlikely, but would warn of a secondary correction. Divergences between gold miners and physical gold often forewarn of changes in the spot price.

There’s a huge bubble, because we have zero rates in the US, zero rates around the world and a huge carry trade. Everyone is borrowing at zero interest rates in dollars and getting a capital gain because the dollar is weakening, so they are borrowing at negative rates. And then they invest in risky assets: commodities, equities, credit. We’re creating a bigger bubble than before.

4xGenie Suport Team

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US Dollar Index and Spot Gold Outlook

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

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.

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

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

FOREX TRADE ALERT for GOLD.

Rising bond yields, rising gold and silver prices, rising crude, and a falling US Dollar index warn of inflation ahead. The anomaly is that we presently enjoy falling prices (deflation) caused by the global credit contraction. But steps taken to stabilize the financial system will lead to either massive instability or inflation – with the latter being the inevitable choice. The difficulty is in timing the switch from one strategy to the other. Perfect timing is as difficult to achieve as stepping from one moving train to another traveling in the opposite direction. A simpler approach would be to shift gradually over time, phased in a number of small steps.

GOLD

Spot gold is accelerating towards watershed resistance at $1000. Breakout followed by confirmation of the new support level would signal a primary advance with a target of $1130, calculated as 1000 + ( 1000 – 870 ). Respect of resistance, or a false break that reverses below $1000, however, would warn of another test of primary support at $870.

SILVER

Spot silver continues in a strong primary up-trend – an encouraging sign for gold. The target of $17.00 is calculated as 14.50 + ( 14.50 – 12.00 ). Reversal below the rising trendline would warn of another test of the new support level at $14.50.

CRUDE OIL

West Texas Crude continues a strong primary advance, warning of rising inflation. The target of $65 has been exceeded and we can expect a correction to test the longer-term [green] trendline. Reversal below the long-term trendline is unlikely, but would signal trend weakness.

US DOLLAR INDEX

The US Dollar Index continues in a strong primary down-trend, also warning of rising inflation. The interim target of 79 has been reached and we can expect a retracement to test the declining trendline. The weakening dollar is a bullish sign for gold.

MORE INFO. ON DOLLAR INDEX.

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

FOREX TRADE ALERT

for AUD/USD and

GOOLD OUTLOOK.

04.16.2009.

Australian Dollar.

The Australian dollar made a false break above resistance at $0.7300 against the greenback, warning of a possible bull trap. Breakout below $0.7150 and the rising trendline would confirm the signal, offering a target of primary support at $0.6300. Until then, reversal above $0.7300 remains as likely, and would offer a target of the September high at $0.8500.

Spot Gold.

Spot gold respected the new resistance level at $900, warning of a down-trend to test $700. Failure of short-term support at 865 would add further confirmation. Reversal above $900 is now unlikely, but would signal a bear trap.

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

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.

4xGenie Support Team.

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FOREX TRADE ALERT | FX OUTLOOK FOR AUD/USD and GOLD

Forex Trade Alert and Gold Commentary

Monday, December 01, 2008.

Before I get started with the forex markets, I wanted to take a brief moment to direct your attention to a headline on Yahoo Finance. “FDA sets melamine standard for baby formula”.

That’s right. A certain “amount” of something toxic is “ok” they say. Well, they are wrong. The reason for this, is so that China can keep exporting to America, and the Fed can print dollars to make up for the difference in the trade deficit. Also, China can buy Us T-Bills in order to pay for it all, and the Us can then pay them interest on the T-Bills. Of course, we’re smarter than that.

http://biz.yahoo.com/ap/081129/infant_formula.html

Gold and Dollar

Gold is back. With another Fed bailout looming, there seems to be no end to it. As money supply expands, money becomes worth less. In fact, money is becoming worth less all over the world. So, gold may just be making a comeback here. We avoided gold for several months and rightfully so. I never just “hang on” because of “fundamentals”. Because often fundamentals become “funny-mentals”. Thinking of a Christmas present? Why not the Olympic Gold Coins? https://online.kitco.com/bullion/

$775.00 is the lowest I would pay for gold. If it goes lower than that, the chart changes, and it becomes too risky a trade. If strength holds, above $775.00, then I would be a buyer.

Lots of Trading Forex Opportunities Coming Up.

Overall, I’d expect some good trading opportunities here. Who knows when the next big market fall could be. Perhaps in March, as it historically has been over several of the past years.

For now, I am looking forward to many exciting forex trading opportunities.

Maybe US DOLLAR Run will come to the end soon, because usually GOLD and U.S DOLLAR

DON’T RUN IN SYNC.

Good Trading,

4XGENIE

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Forex Trade Alert | Gold ans Dollar Commentary