Opportunities to short the USD (12.08.2013)

 

Today we investigate 3 pairs against you can short the USD for an average 90 pips.

Read about the Trend/Wave/Extreme system here

US Dollar weakness has been a key fact of the market during the past week. Nevertheless during the past 2 trading we saw some USD gains that could be taken as a correction and hence an opportunity to sell it.

eurusd 12,08,13

EURUSD (4-HOUR) BUY

  • 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.
  • Previous high of 1.3400 is 90 pips away

gbpusd 12,08,13

 

GBPUSD(4-HOUR) BUY

  • 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.
  • Previous high of 1.5575 is 100 pips away

NOTE: Wait for a second up consecutive candle before buying as this is not a perfect buy signal yet.usdchf 12,08,13

 

 

 

 

USDCHF (4-HOUR) SELL

  • the Trend Bar is down filled pointing Down-Trend
  • There’s a strong down trend chart pattern
  • Extremes Bar slightly in the overbought region.
  • Previous low of 0.9175 is 75 pips away

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.