Daily Forex Markets Analysis (6-7/3/2013)

Read about the Trend/Wave/Extreme system here.

Over the last few days it has been noted that there is US Dollar strength and that going long USD is advised.

This is what we continue to see today .Trades that have been suggested such as buying USDJPY and selling GBPUSDhave been successfull and are now in overbought/ovesold regions respectively hence it is too late to jump back in.  SImilarty EURUSD is approaching oversold so it is risky to short it while USDCAD and USDCHF are alos overbought.  EURJPY and EURAUD are moving sideways leaving the potetntial trading opportunities  in AUDUSD and NSDUSD where there is still some uncertainty as a potential new UP trend is arising.

No trades are advised at the moment.

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.