Forex Trade Alerts EUR/JPY

Forex Trade Alerts EUR/JPY.

Trade Alert for Symbol EURJPY    

Trade Alert for Friday Jun 04, 2010.

[SO=Hidden-text]

Next Day Trading Ranges for Friday Jun 04, 2010.

The 20 day moving average of the daily trading range is 286 PIPS and the 60 day moving average of the daily trading range is 222 PIPS. This shows that volatility has increased in the short term. The percentage of downdays when the open/high ratio is less than 25% is 82.27 percent. This means that if this CURRENCY PAIR does not rise more than 71 PIPS from the opening price then there is a 82.27 percent chance that this will be an downday.

The [R3] or the most extreme high trading range is 116.22.
The [R2] or the extreme high trading range is 114.79.
The [R1] or the  high trading range is 112.25.
The [P] or pivot point is 110.82.
The [S1] or the low trading range is 108.28.
The [S2] or the extreme low trading range is 106.85.
The [S3] or the most extreme low trading range is 104.31.

Next Day Alternate Stops for Friday Jun 04, 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 rises above 114.34 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.

Current Day Trading Session:
New momentum to the downside has just started.

Next Day Trading Session:
If the next day's close is above  113.11 then that could be a sign that the current downward momentum is reversing.

Related articles by Zemanta

• "Euro Reached Year Low against the British Pound" and related posts (dailymarkets.com)