Forex Trade Alert for EUR/JPY


Forex Trade Alert EUR/JPY

 

EUR JPY 12 10 12 Forex Trade Alert for EUR/JPY

FOREX Trade Alert for – Symbol = EURJPY

<Forex Trade Alert for Monday Dec 10, 2012>

On Dec-09-2012 a candlestick formation confirmed a sell signal.  4xGenie Action: ==>   Maintain short position.  Stop at    107.9550.   Wave C could drop down to    103.69  or to    102.07.  NOTE: A consolidation of price movement or a price correction may be underway. An irregular top has formed …. prices could soon drop off.

Next Day Trading Ranges for Monday Dec 10, 2012

The 20 day moving average of the daily trading range is 103 Pips and the 60 day moving average of the daily trading range is 101 Pips. This shows that volatility has increased in the short term. The percentage of down days when the open/high ratio is less than 25% is 61.81 percent. This means that if this Currency pair EUR/JPY does not rise more than 258 Pips from the opening price then there is a 61.81 percent chance that this will be an down day.

The [R3] or the most extreme high trading range is 107.00.
The [R2] or the extreme high trading range is 106.81.
The [R1] or the  high trading range is 106.58.
The [P] or pivot point is 106.39.
The [S1] or the low trading range is 106.16.
The [S2] or the extreme low trading range is 105.97.
The [S3] or the most extreme low trading range is 105.74.

Next Day Alternate Stops for Monday Dec 10, 2012

The red line to the right on your chart is an extreme support or resistance 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 106.81 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: 106.39

Current Day Trading Session:
Momentum is continuing downward at the present time.

Next Day Trading Session:
If the next day’s close is above 107.37 then that could be a sign that the current downward momentum is reversing.

4xGenie support team


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