Forex Summary Report for EUR Currency Pairs

5th Wave Dn    EURAUD1440   Symbol: EURAUD1440   As of Aug-05-2010

Stop of 1.4435 was reached on May-19-2010. 4xGenie Action: ==> Remain out of this market! 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 downward trend may soon correct or end. This trade gained 0.12630 Next Day Trading Range.. High: 1.4371 Low: 1.4366 Next Day Breakout Points High: 1.4372 Low: 1.4362 Price Projections……. 1st: 1.5050 2nd: 1.4708 Current Price Activity.. Open: 1.4369 High: 1.4369 Low: 1.4364 Close: 1.4369

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Forex Summary Report for EUR Currency Pairs

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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

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Forex Trade Alert EUR/USD and USD/JPY

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US Dollar Index, Gold and  Crude Oil Outlook.

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

A strengthening dollar usually signals gold weakness, but there are two factors that mitigate against this: continuing low interest rates (higher rates increase the attractiveness of alternative investments); and rising concern over sovereign debt, causing a flight to the (relative) safety of both gold and the dollar. Breakout above the declining trendline would signal a test of the January high at $1165, while reversal below support at $1080 signal a primary down-trend. A Momentum Oscillator (21-day) peak below zero would also warn of a trend reversal.New Target 1.025

Crude Oil

Crude retreating below the rising (green) trendline warns of trend weakness — and failure of primary support at $72 signal a primary down-trend. Recovery above $76, however, indicates another test of resistance at $80. New Target $68.

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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.

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

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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.

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

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