Please Note: These support/resistance levels are calculated by using the previous days trading range. The [R3] or the most extreme high trading range is 80. 51. The [S2] or the extreme low trading range is 79. 91. The [S3] or the most extreme low trading range is 79. 79. The 20… – Source

FOREX TRADE ALERT USD/JPY | SELL SIGNAL is a post from: TradeForexAmerica.com

The yen, traditionally a safe-haven currency due in part to
Japan’s net foreign assets, gained against the dollar, which
slipped 0. 15 percent to 79. 78 yen. The U. S. dollar fell back below the 80 yen mark, seen as a
support, on Friday after data showed US employers added 115,000
workers to payrolls last… – Source

Japan’s net foreign assets, gained against the dollar is a post from: TradeForexAmerica.com

What Will EUR/USD Do This Week

I have had a lot of Facebook messages from people asking me what EUR/USD will do this coming week….. will it go up or down?

Well, some analysts are saying EUR/USD is heading up to 1.3500. However, other analysts are saying EUR/USD has topped out and it is heading down. Personally I do not know or care what EUR/USD is going to do. I am going to prepare for both eventualities and take some trades whatever happens.

I see a lot of speculation from analysts in the Forex market but the truth is nobody knows exactly what the price will do. My advice is to stop worrying about what is going to happen and just trade when it happens. You should assume nothing and prepare for anything, if you prepare for every eventuality there will be no surprises.

So let’s get into the analysis. I am going to cover EUR/USD from every angle, so you can be prepared, whatever happens.

Forex Instant Trade Alerts

EUR/USD Analysis

EUR/USD Last Week

The Bears started strong by pushing down and testing the previous weeks support at 1.3200. However, the Bulls quickly countered and pushed price back up through the 1.3265 resistance area and the 1.3300 psychological level. Eventually the Bullish move was stopped at the 1.3355 resistance area. After this EUR/USD fell into a range between the 1.3355 resistance area and the 1.3265 support area.

Almost everything that happened last week was a repeat of the previous week. If you look back to last week’s analysis you will see what I mean.

Going Long on EUR/USD

EUR/USD is going to start the week near to a very strong Resistance area at 1.3355 – 1.3375. The resistance area was tested three times last week and the Bulls failed to significantly push through all three times. The more a Support and Resistance area is tested the weaker it gets. However, like last week the resistance area is backed up by an important psychological level at 1.3400.

I know many traders are considering going long on EUR/USD but going long too early can be dangerous. Last week we saw a perfect example of why you shouldn’t go long too early. On the chart below you can see that last week price opened on top of the 1.3265-1.3285 resistance area. Some people went long as soon as the first candle of the week pushed up. However, the price had not cleared the resistance area or the 1.3300 psychological level. So instead of price continuing up the Bears took control and pushed the price down. The large bearish move stung a lot of traders who bought too early.

History could repeat itself this week. Taking a long trade before price clears the 1.3400 psychological level could be a very risky move.

If the 1.3400 is broken the next resistance area starts at 1.3470 so you might want to consider that level as an initial target.

Going Short on EUR/USD

On the short side the 1.3265-1.3285 support area held well throughout last week. The support area is strong so if you are going short early in the week be mindful of it.

You should also be mindful of the minor Support line at around the 1.3330, the orange dotted line on the chart. This line caused a lot of choppiness last week and made it almost impossible to take good short reversals from the 1.3265-1.3285 resistance area. Going short in the vicinity of the 1.3330 could be risky as price can become erratic around it.

If the 1.3265-1.3285 support area is broken the next support area is at 1.3185-1.3205.

Ranging on EUR/USD

If we see a repeat of the last two weeks EUR/USD may break through the 1.3400 on Sunday or Monday. If this happens EUR/USD could fall into a range between the 1.3470-1.3490 resistance area and the 1.3355 – 1.3375 support area. A range like this should give us many reversal trade opportunities.

Analysis Summary

Buying EUR/USD before it breaks 1.3400 might be risky. There are plenty of sellers between 1.3355-1.3400 and it will take a lot of power for the buyers to get through the area. On the short side EUR/USD is facing a minor support line at 1.3333 that caused a lot of choppiness last week. below that is the 1.3265-1.3285 support area which held well last week. Going short before the 1.3265-1.3285 is cleared could be a risky venture.

If we see a repeat of the past two weeks EUR/USD might fall into a range. So your eyes opened for signs of ranges forming between two Support and Resistance areas….More at EUR/USD Weekly Analysis (Wk Strt 1st April 2012) the market so I ended up entering a reversal. The trade lasted for over 12 hours, I opened it at 3:00 and closed at around 17:00 on my phone. As the trade was closed via my phone I did not record the end of the trade. I did add a part to the end explaining how the trade worked out.

Forex Trade Alert

Forex Trade Alert EUR/USD is a post from: TradeForexAmerica.com

Forex Calculator – How Much Money Can You Make in Forex? is a post from: TradeForexAmerica.com

 Forex Trade Alert for  – Symbol GBP/USD.

<Forex Trade Alert for Friday Aug 27, 2010>

On Aug-27-2010 a candlestick formation confirmed a buy signal.  4xGenie Action: ==>   BUY GBP/USD @ 1.5596.  Stop at      1.5352.   Wave 5 could rise up to      1.5813  or to      1.6000.  Today's candlestick appears in the yellow shaded area of the chart. This reflects strong consolidation here!

Next Day Trading Ranges for Friday Aug 27, 2010

The [R3] or the most extreme high trading range is 1.5551.
The [R2] or the extreme high trading range is 1.5543.
The [R1] or the  high trading range is 1.5530.
The [P] or pivot point is 1.5522.
The [S1] or the low trading range is 1.5509.
The [S2] or the extreme low trading range is 1.5501.
The [S3] or the most extreme low trading range is 1.5488.

Next Day Alternate Stops for Friday Aug 27, 2010

The black 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 1.5501 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      1.5560 then that could be a sign that new upward momentum is beginning.

myforexedge.com Support Team

Forex Trade Alert GBP/USD is a post from: TradeForexAmerica.com

Trade Alert for AUDNZD

Trade Alert for Wednesday Aug 25, 2010

On Aug-25-2010 a candlestick formation confirmed a buy signal. 4xGenie Action: ==> Buy this currency pair AUD/NZD at 1.2712 or better. Stop at 1.2474. Wave 3 could rise up to 1.2878 or to 1.3111. Today's candlestick appears in the yellow shaded area of the chart. This reflects strong consolidation here!

Next Day Trading Ranges for Wednesday Aug 25, 2010

The 20 day moving average of the daily trading range is 102 PIPS and the 60 day moving average of the daily trading range is 101 PIPS. This shows that volatility has increased in the short term. The percentage of updays when the open/low ratio is less than 25% is 61.78 percent. This means that if this currency pair AUD/NZD does not drop more than 26 PIPS from the opening price then there is a 61.78 percent chance that this will be an upday.

The [R3] or the most extreme high trading range is 1.2664.
The [R2] or the extreme high trading range is 1.2629.
The [R1] or the high trading range is 1.2606.
The [P] or pivot point is 1.2571.
The [S1] or the low trading range is 1.2548.
The [S2] or the extreme low trading range is 1.2513.
The [S3] or the most extreme low trading range is 1.2490.

Next Day Alternate Stops for Wednesday Aug 25, 2010

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 1.2513 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 1.2610 then that could be a sign that new upward momentum is beginning.

4xGenie Support Team

Forex Trade Alert AUDNZD is a post from: TradeForexAmerica.com

Trading Forex Markets.

 Forex Trade Alerts.

2nd Wave Up GBPCHF1440 Symbol: GBPCHF1440 As of Aug-17-2010

Stop of 1.6303 was reached on Aug-16-2010. 4xGenie Action: ==> Remain out of this market! This trade gained 0.0367

Next Day Trading Range.. High: 1.6322 Low: 1.6246
Next Day Breakout Points High: 1.6353 Low: 1.6201
Price Projections……. 1st: 1.7078 2nd: 1.7552
Current Price Activity.. Open: 1.6276 High: 1.6308
Low: 1.6232 Close: 1.6291

3rd Wave Up GBPJPY1440 Symbol: GBPJPY1440 As of Aug-17-2010

A second entry stop of 134.1900 was reached on Aug-11-2010. 4xGenie Action: ==> Remain out of this market! This trade loss -0.7300

Next Day Trading Range.. High: 133.9000 Low: 133.2000
Next Day Breakout Points High: 134.1900 Low: 132.7900
Price Projections……. 1st: 140.0600 2nd: 143.7232
Current Price Activity.. Open: 133.6100 High: 133.7800
Low: 133.0800 Close: 133.6100

3rd Wave Up GBPUSD1440 Symbol: GBPUSD1440 As of Aug-17-2010

There has been no signal to enter the market at this time.

Next Day Trading Range.. High: 1.5680 Low: 1.5639
Next Day Breakout Points High: 1.5699 Low: 1.5617
Price Projections……. 1st: 1.4883 2nd: 1.5087
Current Price Activity.. Open: 1.5662 High: 1.5677
Low: 1.5636 Close: 1.5661

3rd Wave Dn USDCAD1440 Symbol: USDCAD1440 As of Aug-17-2010

Stop of 1.0390 was reached on Aug-11-2010. 4xGenie Action: ==> Remain out of this market! This trade gained 0.0152

Next Day Trading Range.. High: 1.0434 Low: 1.0403
Next Day Breakout Points High: 1.0451 Low: 1.0389
Price Projections……. 1st: 0.9962 2nd: 0.9691
Current Price Activity.. Open: 1.0432 High: 1.0437
Low: 1.0406 Close: 1.0417

A Wave Up USDCHF1440 Symbol: USDCHF1440 As of Aug-17-2010

Remain out of the market at the present time.

Next Day Trading Range.. High: 1.0419 Low: 1.0371
Next Day Breakout Points High: 1.0437 Low: 1.0341
Price Projections……. 1st: 1.1202 2nd: 1.1494
Current Price Activity.. Open: 1.0393 High: 1.0408
Low: 1.0360 Close: 1.0400

3rd Wave Dn Short USDJPY1440 Symbol: USDJPY1440 As of Aug-17-2010

Market has closed below the 86.9700 level. 4xGenie Action: ==> Maintain short position. Stop at 86.4500. Wave 3 could drop down to 81.1400 or to 76.1738. The resistance level of 85.1957 was broken when prices closed above the top pitchfork line. The market has surged out of the current trading channel and could rise to the bottom fibonacci fan line. NOTE: The width of the Bollinger Bands is expanding which indicates that prices are trending. A divergence in the MACD indicator has been found. The current downward trend may soon correct or end.

Next Day Trading Range.. High: 85.4567 Low: 85.1367
Next Day Breakout Points High: 85.6033 Low: 84.9633
Price Projections……. 1st: 81.1400 2nd: 78.0962
Current Price Activity.. Open: 85.3300 High: 85.4300
Low: 85.1100 Close: 85.3100 

4xGenie Support Team

Trading Forex Markets | Forex Trade Alerts is a post from: TradeForexAmerica.com