Markets Trend/Wave/Extreme Analysis (21/11/2012)

 

For the third consecutive day we can see the same picture.

The Japanese Yen keeps getting weaker and weaker and as a result USDJPY and EURJPY pairs keep reaching higher. As they are in extremely overbought regions it is risky to buy at that point.

Euro,Sterling, and Swiss Franc seem to be gaining while the AUDUSD and NZDUSD continue to drop. Most of the pairs appear to be approaching critical support or resistance levels so once they are off their extreme zones they could be good trading opportunities.

Here are the trading opportunities. Just make sure you don’t buy on overbought or sell on oversold.

EURAUD (4-HOUR) BUY

GBPUSD (4-HOUR) BUY

USDCHF (4-HOUR) SELL

NZDUSD (4-HOUR) SELL

AUDUSD (4-HOUR) SELL

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.