Forex Trade Alert for – Symbol USD/CHF.
Forex Trade Alert for Tuesday Jun 10, 2008.
A buy signal was confirmed when this par closed above 1.0387 on Jun-10-2008. 4xgenie Action: ==> Buy this par at 1.0505. Stop at 1.0141. Wave 3 could rise up to 1.0810 or to 1.1068. Today’s candlestick appears in the yellow shaded area of the chart. This reflects strong consolidation here! The CCI has crossed above -100. Look for rising prices soon.
MONTHLY PIVOT ALERT: Resistance level of 1.0421 was broken today. When the monthly pivot point is broken – we can look for a possible rise to the monthly R1 ( resistance level 1).
Next Day Trading Ranges for Tuesday Jun 10, 2008.
The 20 day moving average of the daily trading range is 140 pips and the 60 day moving average of the daily trading range is 143 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 79.14 percent. This means that if this par does not drop more than 35 from the opening price then there is a 79.14 percent chance that this will be an upday.
The [R3] or the most extreme high trading range is 1.0653.
The [R2] or the extreme high trading range is 1.0546.
The [R1] or the high trading range is 1.0485.
The [P] or pivot point is 1.0378.
The [S1] or the low trading range is 1.0317.
The [S2] or the extreme low trading range is 1.0210.
The [S3] or the most extreme low trading range is 1.0149.
Next Day Alternate Stops for Tuesday Jun 10, 2008.
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 1.0210 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 1.04390 then that could be a sign that new upward momentum is beginning.
4xGenie Support Team
Source: dollar
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