Daily Forex Markets Analysis (10/12/2012)

Today we see US Dollar strengthening while declines in the Euro and the British pound. Most of the pair are currently either following the Trend or correcting hence there are some small wait opportunities or simply trend following. There are no very clear trades but let us see where we can scrape some pips

USDCHF (4-HOURS) BUY

The pair has now reversed from its falling Trend and is now rising. This is seen both by the chart pattern and Trend indicators. As the wave is pointing down you may want to wait a little bit to make the buy as it may edge lower and you could buy it at a lower price.

USDJPY (4-HOURS) BUY

If you check the forecast made on the 5/12/2012 here , it was told how after the pair bounced from the 81.60 resistance it could reach 82.85 again. This is exactly what happened and the pair again couldn’t exceed that level. Nevertheless the trend of the pair still remains up.  Just monitor the pair and once the down correction ends if the trend still remains up you can make the buy trade again.

Read about the Trend/Wave/Extreme system here.

The following is an analysis of the currency markets using the Trend/Wave/Extreme system under a 4-hour period. You can read about the system here. Please read our Risk Disclosure and Terms of Use  prior to making a trade using this information.