Daily Forex Markets Analysis (25/2/2013)

Markets have been characterized mostly by JPY and GBP weakness, after big gaps were developed over the weekend. Hence you may want to wait a bit before shorting these two. In addition we can see some EURO weakness forming.

EURUSD (4-HOUR) Sell

Why Sell

  • There is a distinct falling trendline that has acted as resistance now.
  • Trend indicators are pointing down
  • Wave indicators are neutral
  • Pair has completed an upwards correction shown by the two consecutive down candles and one Extreme indicator pointing overbought. 

 

EURAUD (4-Hour) Sell

Similar picture to EURUSD

Why Sell

  • There is a falling trendline
  • Trend indicators are pointing down
  • Wave indicators are neutral
  • Pair has completed an upwards correction shown by the two consecutive down candles and one Extreme indicator pointing overbought. 

RESULTS______________________________________

I hope you took the EURUSD and EURAUD trades pointed out. They have earned 190 and 150 pips respectively in a relatively short time, FOLLOWING A STRAIGHT LINE. This made them  low risk fast money trades.

This shows the importance of spotting high probability trades using the Trend/Wave/Extreme system.              

 

 

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.