Forex Trade Alert for  Symbol   AUD/USD.

Forx Trade Alert for Friday Aug 27, 2010.

A buy signal was confirmed when this currency pair AUD/USD closed above 0.8955 on Aug-27-2010. 4xGenie Action: ==> Buy this currency pair at 0.9050 or better. Stop at 0.8770. Wave 5 could rise up to 0.9303 or to 0.9674. Today’s candlestick appears in the yellow shaded area of the chart. This reflects strong consolidation here! The CCI has crossed above -100. Look for rising prices soon.

Next Day Trading Ranges for Friday Aug 27, 2010

The [R3] or the most extreme high trading range is 0.9199.

The [R2] or the extreme high trading range is 0.9098.

The [R1] or the high trading range is 0.9044.

The [P] or pivot point is 0.8943.

The [S1] or the low trading range is 0.8889.

The [S2] or the extreme low trading range is 0.8788.

The [S3] or the most extreme low trading range is 0.8734.

Next Day Alternate Stops for Friday Aug 27, 2010

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 0.8788 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:

New momentum to the upside has just started.

Next Day Trading Session:

If the next day’s close is below 0.89050 then that could be a sign that the current upward momentum is reversing.

4xGenie Support Team

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