Forex Trade Alert for - Symbol EUR/CAD.

Forex Trade Alert for Tuesday Jun 10, 2008.

On Jun-10-2008 a candlestick formation confirmed a sell signal. A sell signal was also confirmed when this contract closed below 1.6225 on Jun-10-2008. 4xgenie Action: ==> Sell this contract at 1.5776. Stop at 1.6181. Wave C could drop down to 1.5248 or to 1.5107. NOTE: The width of the Bollinger Bands is expanding which indicates that prices are trending. The CCI is above 100. This par is overbought at this time.

Next Day Trading Ranges for Tuesday Jun 10, 2008.

The 20 day moving average of the daily trading range is 176 pips, and the 60 day moving average of the daily trading range is 192 pips. This shows that volatility has decreased in the short term. The percentage of downdays when the open/high ratio is less than 25% is 64.86 percent. This means that if this par does not rise more than 44 pips from the opening price then there is a 64.86 percent chance that this will be an downday.

The [R3] or the most extreme high trading range is 1.6207.

The [R2] or the extreme high trading range is 1.6123.

The [R1] or the high trading range is 1.5956.

The [P] or pivot point is 1.5872.

The [S1] or the low trading range is 1.5705.

The [S2] or the extreme low trading range is 1.5621.

The [S3] or the most extreme low trading range is 1.5454.

Next Day Alternate Stops for Tuesday Jun 10, 2008.

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 1.6123 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.

Current Day Trading Session:

No signs of downward momentum at this time.

Next Day Trading Session:

If the next day’s close is below 1.5776 then that could be a sign that new downward momentum is beginning.

4xGenie Support Team