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Forex Trade Alert EUR/CAD


Forex Trade Alert EUR/CAD

FOREX Trade Alert for  – Symbol = EUR/CAD

<Trade Alert for Thursday Nov 01, 2012>

FOREX Trade Alert EUR/CAD

On Nov-01-2012 a candlestick formation confirmed a sell signal4xGenie Action: ==>   Sell EUR/CAD at 1.2848 or better.  Stop at  1.3022.   Wave 5 could drop down to 1.2662  or to  1.2451.  NOTE: A consolidation of price movement or a price correction may be underway.  The CCI has crossed below 100. Look for falling prices soon.

Next Day Trading Ranges for Thursday Nov 01, 2012

The 20 day moving average of the daily trading range is 91 Pips and the 60 day moving average of the daily trading range is 92 Pips. This shows that volatility has decreased in the short term. The percentage of down days when the open/high ratio is less than 25% is 50.00 percent. This means that if this currency pair does not rise more than 23 Pips from the opening price then there is a 50.00 percent chance that this will be an down day.

The [R3] or the most extreme high trading range is 1.3048.
The [R2] or the extreme high trading range is 1.3012.
The [R1] or the  high trading range is 1.2954.
The [P] or pivot point is 1.2918.
The [S1] or the low trading range is 1.2859.
The [S2] or the extreme low trading range is 1.2823.
The [S3] or the most extreme low trading range is 1.2765.

Next Day Alternate Stops for Thursday Nov 01, 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 1.3012 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: 1.29

 

Current Day Trading Session:
No signs of downward momentum at this time.

4xGenie Support Team

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