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
- 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.