There has been no signal to enter the market at this time. The support level of 1.5686 was broken when prices closed below the bottom pitchfork line. The currency pair has dropped out of the current trading channel. Today’s candlestick appears in the yellow shaded area of the chart. This reflects strong consolidation here!

Next Day Trading Ranges for Tuesday Nov 17, 2009

The 20 day moving average of the daily trading range is 146 Pips and the 60 day moving average of the daily trading range is 153 Pips. This shows that volatility has decreased in the small term. The percentage of updays when the open/low ratio is less than 25% is 38.57 percent. This earnings that if this Currency Pair does not drop more than 37 Pips from the opening price then there is a 38.57 percent chance that this will be an upday.

The [R3] or the most extreme high trading range is 1.5726.

The [R2] or the extreme high trading range is 1.5712.

The [R1] or the high trading range is 1.5694.

The [P] or pivot point is 1.5680.

The [S1] or the low trading range is 1.5662.

The [S2] or the extreme low trading range is 1.5648.

The [S3] or the most extreme low trading range is 1.5630.

Current Day Trading Session:

No signs of upward momentum at this time.

Next Day Trading Session:

If the next day’s close is above 1.5654(Cancel Limit Order) then that could be a sign that new upward momentum is beginning.

REMEMBER: NEWS OVERRIDES TECHNICAL ANALYSES !!!!!!!!

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Be COGNIZANCE of the NEWS !!!!

4xGenie Support Team

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