Waiting to Sell Australian Dollar for over 100 pips (24/09/2014)

The Australian Dollar has been constantly dropping recently being dragged by drop in commodities (Gold and Silver). Some upward rise has been observed today that provides opportunities for selling it at a higher price.

AUDUSD (H4) SELL

The Trend/Wave/Extreme mini indicator is showing

AUDUSD 20140924

  • The Trend Bar is Red filled pointing Down Trend
  • Wave and Extreme bars are Green pointing an up correction that may have finished
  • A solid Down Trend Line
  • The correction so far has been 65 pips

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

EURAUD (H4) BUY

The Trend/Wave/Extreme mini indicator is showing

EURAUD 20140924

  • The Trend Bar is Green filled pointing UpTrend
  • Wave and Extreme bars are Red pointing a down correction that may have finished
  • A solid UpTrend Line
  • The correction so far has been 100 pips

Note : If you are planning on buying this pair,wait for two consecutive up candles prior to doing so, 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.