Commodities Dropping and AUD retracing (08/09/2014)

Commodities such as Gold and Silver have been dropping and there is still time to sell them. AUD is being dragged as well by this fall and as it is still remains a strong Up trending currency this may provide good AUD buying opportunities.

Let us look first how GOLD and Silver are performing.

GOLD (H4) SELL

The Trend/Wave/Extreme mini indicator is showing

gold 20140908

  • 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 150 pips
  • A solid Down Trend Line

Silver(H4) SELL

The Trend/Wave/Extreme mini indicator is showing

silver 20140908

  • 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 40 pips
  • A solid Down Trend Line

We can see the effect the drop in commodity prices had in AUD which is a major exporter. It has retraced and provided some buying opportunities on AUD.

AUDUSD (H4) BUY

The Trend/Wave/Extreme mini indicator is showing

AUDUSD 20140908

  • 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 60 pips

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

AUDNZD (H4) BUY

The Trend/Wave/Extreme mini indicator is showing

AUDNZD 20140908

  • 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 60 pips

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

EURAUD (H4) SELL

The Trend/Wave/Extreme mini indicator is showing

EURAUD 20140908

  • 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 70 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.

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.