Forex Trade Alert USD/CHF

Trade Alert for Dec 31, 2009.

On Dec-29-2009 a candlestick formation confirmed a buy signal. 4xGenie Action: ==> Buy @ 1.0236. Stop at 1.0085. Wave 3 could rise up to 1.0500 or to 1.0700. The support level of 1.0329 was broken when prices closed below the bottom pitchfork line. The market has dropped out of the current trading channel. NOTE: A consolidation of price movement or a price correction may be underway.

Next Day Trading Ranges for Thursday Dec 31, 2009

The 20 day moving average of the daily trading range is 97 Pips, and the 60 day moving average of the daily trading range is 100 Pips. This shows that volatility has decreased in the short term. The percentage of updays when the open/low ratio is less than 25% is 49.30 percent. This means that if this Currency Pair does not drop more than 24 Pips from the opening price ( 5pm EST) then there is a 49.30 percent chance that this will be an upday.

The [R3] or the most extreme high trading range is 1.0432.

The [R2] or the extreme high trading range is 1.0402.

The [R1] or the high trading range is 1.0349.

The [P] or pivot point is 1.0319.

The [S1] or the low trading range is 1.0266.

The [S2] or the extreme low trading range is 1.0236.

The [S3] or the most extreme low trading range is 1.0183.

Next Day Alternate Stops for Thursday Dec 31, 2009

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 1.0136 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.

Current Day Trading Session:

No signs of upward momentum at this time.

Next Day Trading Session:

If the next day’s close is above 1.0296 then that could be a sign that new upward momentum is beginning.

4xGenie Support Team

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