EUR/USD waiting the buy signal (21/08/2013)

eurusd 21,08,13

Here is a good opportunity to BUY the EUR/USD after it has retraced from its yesterday 5 month high.

Read about the Trend/Wave/Extreme system here

EUR/USD has moved higher during the past two days reaching 1.3450 , a 5 month high. It has now corrected significantly which will make it a good BUY opportunity once it starts rising again.

  • the Trend Bar is green filled pointing an Up-Trend
  • There’s a strong upward trend chart pattern
  • Extremes Bar is in the oversold region.
  • Support at the 38.2% retracement level

Seems like a downwards correction is close to completion and  is ready to rise again.

NOTE: Wait for a second up consecutive candle before buying as this is not a perfect buy signal yet.

ALWAYS PLACE A STOP LOSS TO PROTECT FROM REVERSALS.

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.