Get Ready to Sell the EURO again (20/3/2013)

Read about the Trend/Wave/Extreme system here.

Yesterday the Euro suffered losses against nearly every currency. The reason for this off course is the baillout situatlon in Cyprus. The Cyprus parliament did not vote the haircut on deposits that was proposed by the Eurogroup causing uncertainty and hence the Euro drop.

It is no wonder that we can see the majority of Trend indicators in the Trend/Wave/Extreme system pointing down for EURUSD/EURGBP/EURJPY.  However today was a positive day for the Euro as it manage to make some gains. This can be seen by the Wave indicators pointing up in the above currency pairs making them good Sell opportunities as this up move should be a temporary correction from the down move.

EURUSD (4-HOUR) SELL


Why Sell

-A continuous Down-Trend holding and the continous trouble regarding the Cyprus bailout

-Trend Indicators pointing Down

-Extreme Indicators pointing Overbought

Note:Wait for two consecutive down candles before selling.

EURGB may be also a good sell opportunity

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.