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Oct 14

FOREX TRADE ALERT EUR/JPY | SELL SIGNAL

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EURJPY 10.14.2009 

 

Forex Trade Alert for – Symbol EURJPY Daily

Forex Trade Alert for Wednesday Oct 14, 2009.

On Oct-14-2009 a candlestick formation confirmed a sell signal. 4xGenie Action: ==> Sell this Currency Pair EUP/JPY at 132.59. Stop at 133.89. Wave 5 could drop down to 131.20 or to 129.15. The market closed below the middle fibonacci fan line. Prices should find support on the bottom fan line.

Next Day Trading Ranges for Wednesday Oct 14, 2009.

The [R3] or the most extreme high trading range is 134.12.

The [R2] or the extreme high trading range is 133.79.

The [R1] or the high trading range is 133.24.

The [P] or pivot point is 132.91.

The [S1] or the low trading range is 132.36.

The [S2] or the extreme low trading range is 132.03.

The [S3] or the most extreme low trading range is 131.48.

 

Next Day Alternate Stops for Wednesday Oct 14, 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 rises above 133.79 then that would show momentum against 4XGENIE‘S short position and that would be a break out to the upside.

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: 130.54

 

Current Day Trading Session:

No signs of downward momentum at this time.

Next Day Trading Session:

If the next day’s close is below 130.16 then that could be a sign that new downward momentum is beginning.

 

4xGenie Support Team

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FOREX TRADE ALERT EUR/JPY | SELL SIGNAL

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