Forex Trade Alert UDS/CAD.

Buy Signal for USD/CAD.

Forex Trade Alert for Symbol USD/CAD.

Trade Alert for Tuesday Jun 08, 2010.

On Jun-04-2010 a candlestick formation confirmed a buy signal. A buy signal was also confirmed when this currency pair USD/CAD closed above 1.0525 on Jun-04-2010. 4xGenie Action: ==> BUY USD/CAD @ 1.0500. Stop at 1.0334. Wave 3 could rise up to 1.0800 or to 1.0915. Today’s candlestick appears in the yellow shaded area of the chart. This reflects strong consolidation here!

Next Day Trading Ranges for Tuesday Jun 08, 2010.

Next Day Alternate Stops for Tuesday Jun 08, 2010.

The red line to the right on your chart is an extreme support or resistence 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 drops below 1.0450 then that would show momentum against 4xGenie‘s long position and that would be a break out to the downside.

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: 1.0400

Current Day Trading Session:

Momentum is continuing upward at the present time.

Next Day Trading Session:

If the next day’s close is below 1.03633 then that could be a sign that the current upward momentum is reversing.

4xGenie Support Team.

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