The picture today is similar to yesterday. US /Australian/ New Zealand strength while decline in Euro continues. The noticeable thing however is the rise in the British Pound. A couple of perfect buy/sell opportunities are appearing at the moment, possibly because pair are finishing their corrections.
EURUSD (4-HOUR) SELL
A very good opportunity to Sell EURUSD is approaching. The Trend indicators are pointing down ,while Wave is Up in Overbought region making it a perfect sell once two consecutive candles are formed. What is more the pair is close to forming a Head and Shoulders pattern once the 1.2880 resistance level is breached which could bring the pair much lower.
USDCHF (4-HOUR) BUY
This is the trade that was pointed out yesterday materializing so you better get into this quick. Trend indicators are pointing UP and in oversold region. The chart also shows that the down correction is over and as there has been 2 consecutive Up candles (4 so far) it is time to buy.
EURAUD (4-HOUR) SELL
This will be a potential 100+ pips once it is formed. Both the Trend indicators and chart pattern shows a down trend forming. Currently the pair is under an Up correction shown both by the wave indicators and chart. As it is in overbought region it would be a good opportunity to sell it once 2 down consecutive candles are formed.
Read about the Trend/Wave/Extreme system here.