Sell setup on NZDUSD(27/08/2014)

A selling opportunity appeared on the NZDUSD pair.

USD has been a currency that has been gaining non stop in the past couple of months. Today however it has shown some weakness and combined with the strength observed today in NZD this provides a good selling opportunity in NZDUSD.

NZDUSD (H4) SELL

NZDUSD 20140827

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.
  • A 70 pips up correction

Note: Wait for two consecutive down candles prior to selling this pair as 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.