200 pips buying opportunity in EURAUD 23-24/06/2013

A really good buying opportunity is arsing in the EURAUD. Let us see how we can make more pips from this trade.

Read about the Trend/Wave/Extreme system here

 

EURAUD(4-HOUR) BUY

EURAUD 23-24.06.2013

Why Buy

  • A continuous up trend line
  • Trend (long term) indicators are pointing up
  • Extreme Indicators pointing oversold
  • There is a very strong support at 1.4200 that is holding and a very thin candles has been formed.
  • The previous high at 1.4410 is 200 pips away making this a great trade opportunity

Note: Remember the entry rules. Wait for two consecutive up candles to appear prior to buying, in case the 1.4200 support does not hold and the pair moves lower.

Read about the Trend/Wave/Extreme system here

The following is an analysis of the currency markets using the Trend/Wave/Extreme system . You can read about the system here. Please read our Risk Disclosure and Terms of Use  prior to making a trade using this information.