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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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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

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Forex Trade Alert for EUR/USD

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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

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

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FOREX TRADE ALERT and OUTLOOK for EUR/USD, USD/JPY, AUD/USD

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 and OUTLOOK for EUR/USD, USD/JPY, AUD/USD

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.

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

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