Daily Forex Markets Analysis (10-11/3/2013)

Read about the Trend/Wave/Extreme system here.

It was a great day for the US Dollar on Friday. The USD was already on an uptrend against nearly every currency which was re-enforced by the better than expected employment data. Currently the US Dollar as we can see from the Extreme indicators in the Trend/Wave/Extreme system is in overbought region. Therefore no trading is advised at the moment.

USDCAD (4-HOUR) Monitor for Sell

An interesting picture is being developed in the USDCAD chart which could give a potential sell signal.

– The Canadian dollar had better than expected employment figures on Friday

-The USDCAD has been on an uptrend for quite a while and has its Trend indicators under 4-Hours pointing up

– Recently it has been moving sideways and a double top (which is a bearish signal) has been formed

– If we look at the pair under 1 Hour time frame the Trend indicators are pointing down and Overbought

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.