Forex Trade Alert GBPCHF | Buy Signal for GBPCHF
Forex Trade Alert for GBPCHF .
Forex Trade Alert for Friday Jul 02, 2010.
On Jul-02-2010 a candlestick formation confirmed a buy signal. 4xGenie Action: ==> Buy this
Currency Pair GBP/CHF at 1.6334 or better. Stop at 1.5947. Wave 3 could rise up to 1.7194 or
to 1.7668. NOTE: The width of the Bollinger Bands is expanding which indicates that prices are
trending. The CCI is below -100. This commodity or security is oversold at this time.
Next Day Trading Ranges for Friday Jul 02, 2010.
The 20 day moving average of the daily trading range is 186 Pips and the 60 day moving average of
the daily trading range is 195 Pips. This shows that volatility has decreased in the short term. The
percentage of updays when the open/low ratio is less than 25% is 63.97 percent. This means that if
this Currency Pair GBP/CHF does not drop more than 47 Pips from the opening price then there is a
63.97 percent chance that this will be an upday.
The [R3] or the most extreme high trading range is 1.6463.
The [R2] or the extreme high trading range is 1.6356.
The [R1] or the high trading range is 1.6267.
The [P] or pivot point is 1.6160.
The [S1] or the low trading range is 1.6071.
The [S2] or the extreme low trading range is 1.5964.
The [S3] or the most extreme low trading range is 1.5875.
Next Day Alternate Stops for Friday Jul 02, 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 1.5964 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 1.65217 then that could be a sign that new upward momentum is
beginning.
4xGenie Support Team.
