FOREX TRADE ALERT and OUTLOOK for USD/JPY, EUR/USD, AUD/USD

and UD DOLLAR INDEX

FOREX TRADE ALERT: DOLLAR STRENGTHENS.

US DOLLAR INDEX.

The US Dollar Index is testing short-term resistance at 81. Breakout would signal a secondary reaction to test resistance at 83, while respect of resistance would warn of a primary down-swing with a target of 76.

Euro The primary trend of the euro is upwards and likely to continue. If we had to invert the euro/usd chart it would paint a similar picture to the US Dollar Index. Breakout from the rising trend channel warns of a secondary correction to test support at $1.37 [green]. Respect of the 100-Day moving average would be a bullish sign, while failure of primary support at $1.29 [red] would signal a trend reversal. There has been no signal to enter the market at this time. NOTE: A consolidation of price movement or a price correction may be underway. The CCI is above 100. This currency pair is overbought at this time. The [R3] or the most extreme high trading range is 1.4516. The [R2] or the extreme high trading range is 1.4329. The [R1] or the high trading range is 1.4180. The [P] or pivot point is 1.3993. The [S1] or the low trading range is 1.3844. The [S2] or the extreme low trading range is 1.3656. The [S3] or the most extreme low trading range is 1.3507. Japanese Yen The dollar is testing resistance at ¥99. Breakout would signal reversal to a new primary up-trend – confirmed if resistance at ¥101 is penetrated. Reversal below ¥94, however, would signal continuation of the down-trend – with a target of the December low of ¥87. Today’s candlestick appears in the yellow shaded area of the chart. This reflects strong consolidation here! The CCI is above 100. This currency pair is overbought at this time. The [R3] or the most extreme high trading range is 98.8190. The [R2] or the extreme high trading range is 98.5510. The [R1] or the high trading range is 98.2630. The [P] or pivot point is 97.9950. The [S1] or the low trading range is 97.7070. The [S2] or the extreme low trading range is 97.4390. The [S3] or the most extreme low trading range is 97.1510. Current Day Trading Session: No signs of downward momentum at this time.

Next Day Trading Session: If the next day’s close is below 98.25 then that could be a sign that new downward momentum is beginning. Australian Dollar Remain out of this market! Today’s candlestick appears in the yellow shaded area of the chart. This reflects strong consolidation here! The CCI has crossed below 100. Look for falling prices soon. This trade gained 123 Pips. The Aussie dollar is testing its lower trend channel against the greenback. Downward breakout is more likely, considering the rebound on the US Dollar Index, and would signal a secondary correction. Respect of short-term support at $0.7750 [orange], however, would indicate another test of the upper channel. In the longer term, a secondary correction would test support at $0.7000; while the target for the primary up-trend is the September high at $0.8500. The [R3] or the most extreme high trading range is 0.8256. The [R2] or the extreme high trading range is 0.8172. The [R1] or the high trading range is 0.8062. The [P] or pivot point is 0.7979. The [S1] or the low trading range is 0.7868. The [S2] or the extreme low trading range is 0.7785. The [S3] or the most extreme low trading range is 0.7675 Current Day Trading Session: Momentum is continuing upward at the present time.

Next Day Trading Session: If the next day’s close is below 0.7972 then that could be a sign that the current upward momentum is reversing. 4xGenie Support Team

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