USD Retracement Provides Buying Opportunities(22/08/2014)

Several opportuninites to buy USD today once its retracement is over. The US Dollar which has been strong over the past months has shown some decline today we can take into our advanatage by buying it against other currencies.

After scanning the market on the GBP using Trend/Wave/Extreme system here is what we get.

twx 20140822

USD is uptrending against EUR,CHF,CAD,NZD and also is in oversold region.  Hence it is possible to buy USD against these pairs

EURUSD (H4) SELL

EURUSD 20140822

The Trend/Wave/Extreme mini indicator is showing us

  • The Trend Bar is Red filled pointing Down Trend
  • Wave and Extreme Bars are Up Overbought pointing an up correction that may be ending
  • A very solid down trend line.
  • The correction so far has been 50 pips

Note*:  If you are planning on selling this pair wait for two consecutive down candles. Correction may not be over yet .

NZDUSD (H4) SELL

NZDUSD 20140822

The Trend/Wave/Extreme mini indicator is showing us

  • The Trend Bar is Red filled pointing Down Trend
  • Wave and Extreme Bars are Up Overbought pointing an up correction that may be ending
  • A very solid down trend line.
  • The correction so far has been 70 pips

Note*:  If you are planning on selling this pair wait for two consecutive down candles. Correction may not be over yet .

USDCAD (H4) BUY

USDCAD 20140822The Trend/Wave/Extreme mini indicator is showing us

  • The Trend Bar is Green filled pointing UpTrend
  • Wave and Extreme Bars are Oversold pointing a down correction that may be ending
  • A very solid up trend line.
  • The correction so far has been 55 pips

Note*:  If you are planning on buying this pair wait for two consecutive up candles. Correction may not be over yet .

Do not  of the major resistance at 1.0980 as it has been tested three times.

USDCHF (H4) BUY

USDCHF 20140822

The Trend/Wave/Extreme mini indicator is showing us

  • The Trend Bar is Green filled pointing UpTrend
  • Wave and Extreme Bars are Oversold pointing a down correction that may be ending
  • A very solid up trend line.
  • The correction so far has been 40 pips

Note*:  If you are planning on buying this pair wait for two consecutive up candles. Correction may not be over yet .

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.