There has been no signal to enter the market at this time. The support level of 1.5686 was broken when prices closed below the bottom pitchfork line. The currency pair has dropped out of the current trading channel. Today’s candlestick appears in the yellow shaded area of the chart. This reflects strong consolidation here!
Next Day Trading Ranges for Tuesday Nov 17, 2009
The 20 day moving average of the daily trading range is 146 Pips and the 60 day moving average of the daily trading range is 153 Pips. This shows that volatility has decreased in the short term. The percentage of updays when the open/low ratio is less than 25% is 38.57 percent. This means that if this Currency Pair does not drop more than 37 Pips from the opening price then there is a 38.57 percent chance that this will be an upday.
The [R3] or the most extreme high trading range is 1.5726.
The [R2] or the extreme high trading range is 1.5712.
The [R1] or the high trading range is 1.5694.
The [P] or pivot point is 1.5680.
The [S1] or the low trading range is 1.5662.
The [S2] or the extreme low trading range is 1.5648.
The [S3] or the most extreme low trading range is 1.5630.
Current Day Trading Session:
No signs of upward momentum at this time.
Next Day Trading Session:
If the next day’s close is above 1.5654(Cancel Limit Order) then that could be a sign that new upward momentum is beginning.
REMEMBER: NEWS OVERRIDES TECHNICAL ANALYSES !!!!!!!!
http://www.4xgenie.com/News_Charts.html
Be COGNIZANCE of the NEWS !!!!
4xGenie Support Team
Check Other Forex Resources
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A setup on the EUR/CAD 1 minute chart. … bossilator “rob booker” “chart school” piptopia currency forex
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EUR/CAD Elliott Wave Analysis Although the single currency rose to as high as 1.6001 this Monday, as the currency pair has retreated after faltering below resistance at 1.6096, suggesting further consolidation would take place, however, …
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no post for nov 23 2009?