Markets Analysis (27/11/2012)

 

AUDUSD (4 HOURS/1 DAY) BUY

The AUDUSD broke off its tight trading range exploding much higher . This is now a potential good long term buy.  Checking the Trend/Wave/Extreme indicators for both 1Hour, 4Hours and 1 Day they could have not supported better a Buy. Nearly every long term and short term indicator is pointing Up and in addition the 1hour timeframe is pointing oversold. Looking at the  1-Day chart it can be seen that the pair has started forming and an uptrend and is slightly higher than crucial resistance level at 1.0475 that has been tested 3 times .  It’s best to observe if this level doesn’t hold before buying.

EURGBP (4 HOURS) BUY

Perhaps it is time to get back to this trade again  (or any of the EURUSD,EURJPY) crosses.  Indicators are pointing an Up Trend ,with a correction down wave in oversold territory.  The chart pattern also indicates an Up Trend under a down wave. Simply wait for the two up candles to buy again.

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.