Time to buy the US Dollar again 21/05/2013
The US Dollar has been gaining consistently over the previous week against nearly every currency in the board. Yesterday we the saw however the US Dollar pulling back a bit. Possibly some people who were long the USD decided to take their profits. What does this mean for you as a trader ? It is time to buy USD again.
NZDUSD/AUDUSD (4-HOUR) Sell
Why Sell
•A strong downtrend line
•Trend (long term indicators) are pointing down
•One extreme indicators pointing overbought
•Chart pattern shows a bounce has occurred after an upwards correction.
Read more about today's analysis here, and about the Trend/Wave/Extreme system where this analysis is based on here.
The US Dollar has been gaining consistently over the previous week against nearly every currency in the board. Yesterday we the saw however the US Dollar pulling back a bit. Possibly some people who were long the USD decided to take their profits. What does this mean for you as a trader ? It is time to buy USD again.
NZDUSD/AUDUSD (4-HOUR) Sell
Why Sell
•A strong downtrend line
•Trend (long term indicators) are pointing down
•One extreme indicators pointing overbought
•Chart pattern shows a bounce has occurred after an upwards correction.
Read more about today's analysis here, and about the Trend/Wave/Extreme system where this analysis is based on here.