Forex Trade Alert for EUR/USD

0 Comments Published December 4th, 2009 in 4xGenie

: The euro broke owing to resistance at 1.50

Forex Trade Alert For EUR/USD

5th Wave Up EUR/USD As of Dec-04-2009.

The euro broke owing to resistance at $1.50 before retracing to test the new support level. Respect would offer a small-term target of $1.53. Momentum holding above zero confirms a strong up-trend; the bearish divergence so far indicates consolidation, but reversal below zero (while unlikely) would signal a correction. Expect a test of $1.60 in the medium to long-term.

4xGenie Proceedings: ==> Remain out of this market! Today’s candlestick appears

in the yellow shaded area of the chart. This reflects strong consolidation here! A divergence in the MACD indicator has been found. When this appears on a 5th wave this could be a sign of collapse. The current upward trend may soon assess or end. The CCI has crossed below 100. Look for falling prices soon.

Next Day Trading Range.. High: 1.5070 Low: 1.5041

Next Day Breakout Points High: 1.5083 Low: 1.5025

Current Day Trading Session:

Momentum is continuing upward at the present time.

Next Day Trading Session:

If the next day’s close is below 1.5033 then that could be a sign that the current upward momentum is reversing.

4xGenie Suport Team.

No Buy or sell Recommendation !!!