Daily Forex Markets Analysis (28-29/2/2013)

Read about the Trend/Wave/Extreme system here.

Today is all about going Long the USD Dollars. We can see in the Trend/Wave/Extreme system market overview picture above that in all of the pairs the USD is rising.  EURUSD/GBPUSD/AUDUSD/NZDUSD trend indicators are pointing down, while USDCHF and USDCAD trend indicators pointing up. Therefore there are good trading opportunities across the board to buy USD.

AUDUSD (4-HOUR) SELL

Why Sell

  • A clear falling trendline holding
  • An upward correction has occurred and appears to be finished, shown by the two consecutive down candles
  • Extreme indicators are pointing overbought.

NSDUSD (4-HOUR) SELL

Why Sell

  • A clear falling trendline holding
  • An upward correction has occurred and appears to be finished, shown by the two consecutive down candles
  • Extreme indicators are pointing overbought.

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.