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Forex Trade Alert AUD/USD

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Forex Trade Alert AUD/USD

Forex Trade Alert for – Symbol = AUD/USD

<Forex Trade Alert for Friday Nov 02, 2012>

On Nov-02-2012 a candlestick formation confirmed a sell signal. 4xGenie Action: ==> Sell this contract at 1.0270 or better. Stop at 1.0418. Wave C could drop down to 1.02350 or to 1.0109. The 200 day moving average has been broken ….. Very Bearish! The market closed below the middle fibonacci fan line. Prices could retrace down to the bottom fan line before finding support. Today’s candlestick appears in the yellow shaded area of the chart. This reflects strong consolidation here! The CCI has crossed below 100. Look for falling prices soon.

QUARTERLY PIVOT ALERT: Support level of 1.0366 was broken today. When the Quarterly pivot point is broken – we can look for a possible drop to the Quarterly S1 ( support level 1).

Next Day Trading Ranges for Friday Nov 02, 2012

The [R3] or the most extreme high trading range is 1.0479.
The [R2] or the extreme high trading range is 1.0449.
The [R1] or the high trading range is 1.0391.
The [P] or pivot point is 1.0360.
The [S1] or the low trading range is 1.0303.
The [S2] or the extreme low trading range is 1.0272.
The [S3] or the most extreme low trading range is 1.0215.

Next Day Alternate Stops for Friday Nov 02, 2012

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 rises above 1.0449 then that would show momentum against 4xGenie‘s short position and that would be a break out to the upside.

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.

Alternate stop: 1.03

Current Day Trading Session:
New momentum to the downside has just started.

Next Day Trading Session:
If the next day’s close is above 1.03486 then that could be a sign that the current downward momentum is reversing.

4xGenie Support Team

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