Not every day is a trading date.(21/08/2014)

Today we just take a quick look at the Trend/Wave/Exteme snapshot. WIth strong currencies reaching overbought levels no proper setups are found today.

Its been a good trading week where we saw

-Declines in EUR,GBP

-Strength in USD,AUD

Hence we saw in our previous week's posts opportunities to sell combinations of the above . Such as selling EURAUD,EURUSD,GBPUSD,GBPAUD.

20/08/2014

19/08/2014

18/08/2014

After scanning the markets using Trend/Wave/Extreme system here is what we get.twx 20140821a

twx 20140821b

  • Strong downtrending pairs are in oversold regions
  • Strong uptrending pairs are in overbought regions

It is difficult to find a trending pair that has retraced sufficiently from its trend.

Therefore a smart trader should know when it is time to stay out of the markets and this is what we are doing today.

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.