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Top trade idea for February 9th, 2016 – AUD/USD

AUDUSD has turned nicely down last week from 0.7240 where we expected to see a new turning point after seven legs of recovery from January lows. Recovery was overlapping and slow so we labeled it as a corrective move, probably it was wave C within a big triangle so new three wave decline can now […]

RBA Maintains An Easing Bias, But With Upbeat View

The Reserve Bank of Australia left rates on hold at +2.00% as widely expected, noting reasonable prospects for continued growth in the economy, with inflation close to target. The RBA retained its view that “low inflation may provide scope for easier policy” but was also more upbeat on domestic economy, “stating expansion in the non-mining […]

Top trade idea for January 29th, 2016 – AUD/USD

The Aussie Dollar looks like it might be completing a Gartley pattern.  The Gartley is a 3 part correction that sets up for a trade in the direction of the major trend. In this case the correction is a rally, with the major trend being down The Gartley is completed if the corrective rally finishes […]

Top trade idea for January 15th, 2016 – USD/CAD

This has been a magnificent uptrend. Recently of course it’s been mainly about oil’s woes and the impact on Canada’s export revenue. Over the past couple of days, the market has shown signs of faltering at and AB=CD level. If there is a trend peak here, the latest swing will be the same size as […]

Top trade idea for January 14th, 2016 – EURAUD

This EURAUD scenario is one for the braves so the actual exposure into this trade should be more conservative than other trades. The reason for this is that we’re actually hunting a pretty rare but powerful structure, namely a flat pattern that will have a double failure. Having said that, it means we need an […]

Top trade idea for January 13th, 2016 – AUD/USD

It’s said that the night is blackest just before the dawn, and investors clearly had a very dim short-term outlook on China’s economy earlier this week. After some aggressive action from the People’s Bank of China (PBOC) and better-than-expected trade data, there is a glimmer of hope on the horizon, but only time will tell […]

Top trade idea for January 12th, 2016 – AUD/USD

A sharp decline on last week took out the lower side of an upward corrective channel which is the most important evidence for a trend continuation on AUDUSD pair, in our case to the downside. So with that in mind we suspect that wave 4) is over and that price is headed to a new […]

Top trade idea for January 7th, 2016 – AUDUSD

AUDUSD pair here it is being sold aggressively together with the whole commodity sector to start the year and our take is that the pair is going to make a new low. This is the reason for wanting to go long from that 0.6900 area with 0.6700 stop loss and 0.7320 take profit as the […]

AUD/USD – Aussie Slips on Weak Chinese Manufacturing Numbers

The Australian dollar has posted considerable losses on Monday, as AUD/USD trades just above the 0.72 line early in the European session. After a quiet Christmas week, the markets are back in action. Taking a look at Monday’s schedule, Australian Commodity Prices continues to sink, and posted a sharp decline of 23.3% in December. The Chinese […]

Top trade idea for December 28th, 2015 – AUD/USD

Trading opportunities for currency pair: going against a bear trend. Wave “B” on the weekly is forming as a triangle. It could trade between 0.7100 and 0.7370 until the end of the year. As soon as wave B forms wave “e”, look to open long positions with small protective stops under 0.7016 and with a […]

Top trade idea for December 11th, 2015 – AUD/JPY

That Leonardo Bonacci is some trader! Almost a thousand years ago, he was all over the recent rally in AUD/JPY, correctly nominating short term support and resistance and potential turning points. Kind of. Although not a “clean” uptrend since August (note the lower high in late October) the Fibonacci retracement levels are providing a good […]

Top trade idea for December 4th, 2015 – AUD/USD

Heading into this morning’s Non-Farm Payrolls data the, Aussie Dollar is setting up to complete a possible double top formation in the 4 hour chart. The Bollinger Bands on the chart are indicating that while price has recently made a new peak at .7363, it is lower in relative terms. This is John Bollinger’s classic […]

Dollar Retreats As Rate Hike Pace Questioned

The U.S dollar starts the final month of the year under pressure across the board as dealers and investors prudently price in market expectations of a gradual tightening cycle by the Fed. Currently, it’s considered a forgone conclusion that the Yellen and company will begin their rate normalization policy on December 16. Now it’s about […]

AUDUSD – Rally Continues After Brief Retracement

The Aussie dollar is rallying against its U.S. counterpart again on Monday after undergoing a correction in the second half of last week. The pair broke above the long term descending channel a couple of weeks ago and while the move higher has been far from convincing since, it appears we could see another slow […]

Top Trade Idea for 11/27/2015 – Fibonacci says sell EUR/AUD

In a contest between two weakening currencies, who wins? In the current environment, the currency with the largest central bank. I’d back the RBA to box well above its weight, but it’s just not in the same category as the ECB. A continuation of the current downtrend in EUR/AUD seems likely, and even Leonardo Bonacci […]

AUDUSD – Evening Star Casts Doubt on Breakout

After breaking above the descending channel that it has traded within for more than a year, the Australian dollar has failed to gather much momentum against the greenback and once again appears to be struggling to push on. I highlighted on Tuesday (AUDUSD – Bullish Breakout Unconvincing) that while the move above the channel should […]

Top trade idea for November 26th, 2015 – EURAUD

Despite the overall bearish tone the ECB is having in the sense that the central bank is expected to cut the rates deeper into negative territory and to extend the quantitative easing program, I kind of like the EURAUD cross at current levels. The reason for that is the fact that the market seems to […]

AUDUSD – Bullish Breakout Unconvincing

The Australian dollar has traded within a descending channel against the greenback for more than a year now but in the last couple of days it appears to have finally broken above it, which could be a very bullish signal. The pair broke above the channel on Friday and despite seeing immediate downside pressure on […]

USD at 7-month high against EUR

Despite the holiday shortened trading week, dealers and investors continue to prep for next months two-day FOMC meeting. Divergence in monetary policy remains the theme in FX ahead of several December important central bank meetings. Not surprisingly, the dollar remains on the offensive across the major pairs as short-term U.S rates continue back up in […]

Top trade idea for November 20th, 2015 – AUD/USD

The Aussie Dollar made a strong break above trend line resistance yesterday. In doing so it completed a bullish head and shoulder pattern. This was mainly about $US weakness following a strong run. However, the Aussie and Kiwi Dollars were amongst the best performers against $USin this correction This slow stochastic indicator in the box […]

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