Forex Trade Alert for USD/CAD.

Forex Trade Alert for Wednesday Aug 08, 2008.

On Aug-08-2008 a candlestick formation confirmed a sell signal. ForexGenie Action: ==> Sell this currency pair gbp/usd 1.0385. Stop at 1.0600. Wave 3 could drop down to 1.0300 or to 1.0050.

Monthly Pivots

The [R3] or the most extreme high trading range is 1.0642.

The [R2] or the extreme high trading range is 1.0458.

The [R1] or the high trading range is 1.0344.

The [P] or pivot point is 1.0160.

The [S1] or the low trading range is 1.0046.

The [S2] or the extreme low trading range is 0.9862.

The [S3] or the most extreme low trading range is 0.9748.

Next Day Trading Session:

If the next day’s close is below 1.0400 then that could be a sign that new downward momentum is beginning.

FOREX GENIE