Getting Ready to BUY USD (03/09/2014)

We look at some potentials to buy USD against EUR and CHF as USD has retraced a bit against them.

EURUSD (H4) SELL

The Trend/Wave/Extreme mini indicator is showing

EURUSD 20140903

  • The Trend Bar is Red filled pointing Down Trend
  • Wave and Extreme bars are Green pointing an up correction that may have finished
  • The correction so far has been 50 pips
  • A solid Down Trend Line

Note: If you are planning on selling this pair wait for two consecutive up candles as the correction may not be over yet.

USDCHF (H4) BUY

The Trend/Wave/Extreme mini indicator is showing

USDCHF 20140903

  • The Trend Bar is Green filled pointing Up Trend
  • Wave and Extreme bars are red filled pointing a down correction that may have finished
  • A solid UpTrend Line
  • Correction so far has been 40 pips

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

GBPJPY (H4) BUY

This is a bonus trade that if goes as planned could bring several pips

The Trend/Wave/Extreme mini indicator is showing

GBPJPY  20140903

  • The Trend Bar is Green filled pointing Up Trend
  • Wave and Extreme bars are red filled pointing a down correction that may have finished
  • A solid UpTrend Line
  • Correction so far has been 110 pips

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

GBP is a currency that has been weakening non-stop so don't rush into buying this without confirmation. There are still enough pips to sacrifice on this trade.

Read about the Trend/Wave/Extreme system here

The following is an analysis of the currency markets using the Trend/Wave/Extreme  . You can read about the system here. Please read our Risk Disclosure and Terms of Use  prior to making a trade using this information.