Time to buy the US Dollar again 21/05/2013

twx  21.05.13

The US Dollar has been gaining consistently over the previous week against nearly every currency in the board.  Yesterday we the saw however the US Dollar pulling back a bit. Possibly  some people who were long the USD decided to take their profits. What does this mean for you as a trader ? It is time to buy USD again.

Read about the Trend/Wave/Extreme system here

You can sell pairs such as EURUSD,AUDUSD,NZDUSD and buy pairs such us USDCAD,USDCHF,USDJPY.

Let us see the charts of NZDUSD and AUDUSD and why you should sell.

NZDUSD/AUDUSD (4-HOUR) Sell

audusd 21.05.13

nzdusd 21.05.13

Why Sell

  • A strong downtrend line
  • Trend (long term indicators) are pointing down
  • One extreme indicators pointing overbought
  • Chart pattern shows a bounce has occurred after an upwards correction.

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.