Markets Trend/Wave/Extreme Analysis (20/11/2012)

 

Most of the currency markets seem to be unchanged in relationship to yesterday. Euro strength is still there, while decline in Japanese Yen also. USDJPY and EURJPY keep rising higher and higher but are overbought at the moment.

What the currencies seem to be good today is selling the Australian/New Zealand currencies.

Buy EURAUD as it has an Up trend and Up wave in neutral area.

Sell NZDUSD ,AUDUSD as they have an Down trend and Down wave in neutral area.

EURAUD (4-HOURS)

 

This is the same trade that was showed yesterday revisited as it seems even closer towards happening. We see an Up trend and an Up wave according to the Trend/Wave/Extreme system .The chart is showing a falling trend line being closed to being penetrated while a new Up Trend chart pattern is close to being formed. So I would want to be buying this.

AUDUSD (4-HOURS)

It can be seen by the Trend/Wave/Extreme system that the pair has a down trend and down wave in neutral region. In addition the chart shows that the pair failed to break a resistance level and reach higher and is now dropping down.  It is also currently testing a crucial support level which would bring the pair even lower. So I want to be selling this.

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.