Shorting the Australian Dollar, 200 pips targets (12.06.2013)

The Australian Dollar has been falling continuously over the past month . Over the past 2 days however we saw the Australian Dollar recovering a bit . Hence this is a good chance to get back in to selling the Australian Dollar against the US Dollar and the Euro.

Read about the Trend/Wave/Extreme system here

AUDUSD (4-HOUR) SELL 

audusd 12.06.2013

Why sell

  • A continuous down trend line
  • Trend (long term) and Wave (short term) indicators are all pointing down
  • Extreme indicators are pointing overbought
  • Two consecutive down candles formed
  • Distance from the previous low is around 200 pips

EURAUD(4-HOUR) BUY

euraud 12.06.2013

Why buy

  • A continuous up trend line
  • Trend (long term) and Wave (short term) indicators are all pointing up
  • Extreme indicators are pointing oversold
  • Two consecutive up candles formed
  • Distance from the previous high is around 200 pips

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.