Today we are looking two counter-correlated pairs pointing towards the same thing. Buying the USD. Two trading opportunities two either buy USDCHF or EURUSD.
Read about the Trend/Wave/Extreme system here Looking at the Trend/Wave/Extreme original indicator today we can see that all the Trend Indicators are pointing towards USD strengthening. EURUSD,GBPUSD,AUDUSD,NZDUSD are pointing down while USDJPY,USDCHF,USCAD are pointing up. We investigate a trade in two of them.
USDCHF (4 Hour) Buy
The Trend/Wave/Extreme mini view indicator is showing us
- Trend bar is Up Green filled pointing Up Trend
- Extremes bar is Down Red filled pointing the pair is oversold
- A solid up trend line chart pattern
It appears that an uptrend finished a down correction and should resume its up movement
EURUSD (4 Hour) SellThe Trend/Wave/Extreme mini view indicator is showing us
- Trend bar is Down Red filled pointing Down Trend
- Extremes bar is Down Red filled pointing the pair is overbought
- A solid down trend line chart pattern
It appears that a downtrend finished an up correction and should resume its down movement.
Read about the Trend/Wave/Extreme system here