AUD/USD bouncing higher (05.09.2013)

audusd 05,09,13

The AUD/USD is has dropped a bit from its uptrend making it a buy opportunity.

Read about the Trend/Wave/Extreme system here

Our Trend/Wave/Extreme indicator says we have

  • an uptrend
  • oversold market conditions

Combine this is with a support holding at the 23.6% retracement level makes it a potential buy.

Wait for an additional bull candle before buying

ALWAYS PLACE A STOP LOSS TO PROTECT FROM REVERSALS.

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.