Forex Trade Alert for EUR/USD | Sell Signal

Forex Trade Alert for Tuesday May 11, 2010

4xgenie Action: ==> Remain out of this market! The CCI is below -100. This Pair EUR/USD is oversold at this time. This trade gained 658 PIPS.

Euro The euro is headed for a test of long-term support at $1.25, but we could see retracement to resistance at $1.30 in the short term. Declining momentum below zero confirms strong selling pressure. In the long term, failure of support at $1.25 would offer a target of parity.

Next Day Trading Ranges for Tuesday May 11, 2010 The 20 day moving average of the daily trading range is 164 PIPS and the 60 day moving average of the daily trading range is 141 PIPS. This shows that volatility has increased in the short term. The percentage of downdays when the open/high ratio is less than 25% is 65.10 percent. This means that if this Pair not rise more than 41 Pips from the opening price then there is a 65.10 percent chance that this will be an downday.

The [R3] or the most extreme high trading range is 1.2910. The [R2] or the extreme high trading range is 1.2855. The [R1] or the high trading range is 1.2775. The [P] or pivot point is 1.2720. The [S1] or the low trading range is 1.2640. The [S2] or the extreme low trading range is 1.2585. The [S3] or the most extreme low trading range is 1.2505.

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

Next Day Trading Session: If the next day’s close is above 1.3011 then that could be a sign that the current downward momentum is reversing.

4xGenie Support Team