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Top Trade Idea for April 20th, 2015 – USD/CAD

Global FX Club) USD/CAD is at an interesting juncture as the pair tumbled this past week from a high of 1.2644 to a low of 1.2087 as the setback came on the back of U.S. crude rising 4 percent after the bullish EIA inventory report. That fundamental fact pair with the technical picture in which […]

Commodity Dollars Soar After China Cuts Reserve Requirement Ratio

Talking Points: Commodity Dollars Soar After China Issues 100bps RRR Cut for Top Banks Japanese Yen Gains Amid Risk Aversion, Euro Declines on Greece Jitters US Dollar Looks to Dudley Comments to Drive Rates “Liftoff” Speculation The Australian, Canadian and New Zealand Dollars outperformed in overnight trade after China unexpectedly cut the reserve requirement ratio […]

Grexit Fears Has Yields Tumbling and EUR Crosses Under Pressure

German bund yields print new record lows Grexit fears has spreads widening further Risk aversion pummels EUR crosses Commodity currencies find needed support Global yields continue to tumble, mostly on fear or lack of returns and modest growth prospects. It’s beneficial for investors to understand the relationship between various yields spreads to comprehend some of […]

Top trade idea for April 16th, 2015 – GBPCAD

What I am targeting here is nothing but a rising wedge for the gbpcad cross as the 2-4 trend line of the bigger degree impulsive move has been broken yesterday. Actually it is quite interesting as the spike higher yesterday has been sold aggressively on Bank of Canada being quite pleased with the way the […]

USD/CAD – Loonie Head Fake Hurts Bears and Threatens Dollar Low

CAD Bulls have the hammer Poloz: Oil shock front loaded for Canada Loonies three-month range in danger of being broken No new surprises from the ECB The BoC held rates as expected this morning. Governor Poloz sees oil price shock dissipating and repeated that the oil impact was more front-loaded and that it would not […]

Dollar Skittish Below 12 Year High Risk, Monetary Policy Themes Heat Up

Talking Points: Dollar Skittish Below 12 Year High Risk, Monetary Policy Themes Heat Up Euro: What Should we Expect from the ECB, Greece Today? Australian Dollar Holds Precarious Floor after Chinese GDP Hits 6-Year Low Dollar Skittish Below 12 Year High Risk, Monetary Policy Themes Heat Up With the USDollar testing the 12-year highs established […]

USDOLLAR Index Triangle Finding Resolution Higher

Talking Points: USDOLLAR Index trades through key former swing high of 12093. EURUSD breakdown sees post-FOMC lows broken. See the April forex seasonality report. As interest rate expectations were decimated in the wake of the March FOMC meeting and March NFP report, the US Dollar’s bull run had taken a backseat to the short-term influences […]

Top trade idea for April 12th, 2015 – USD/CAD

USDCAD has formed into a well-defined, rectangular trading range. For me this presents 3 potential trading opportunities: Sell on a clear break of the rectangle support looking for a deeper correction of the major rally leading into this pattern Sell on another rejection of the rectangle resistance. This would set up for a return to […]

How Do FOMC Minutes Fit in with USDOLLAR’s Ongoing Triangle?

Talking Points: EURUSD loses post-March FOMC uptrend, but still rangebound. USDCAD back into middle of range after holding C$1.2350/2400. See the April forex seasonality report. The USDOLLAR Index is testing the topside of its triangle resistance as ST indicators turn higher. However, on a day and in a week where the economic calendar (in particular, […]

Top Trade Idea for April 8th, 2015 – USD/CAD

“I assure you, ladies and gentlemen, that if we do find oil here – and I think there’s a very good chance that we will – this community of yours will not only survive, it will flourish.” In his inimitable performance as Daniel Plainview in the 2007 movie, “There Will Be Blood,” Daniel Day Lewis […]

Dollar’s Fate Rests with NFPs due to Positioning, Seasonality

Talking Points: USDJPY holding near weekly lows, below key Jan-Mar uptrend. USDCAD falls back to dynamic supp/resist area ahead of NFPs. See the April forex seasonality report. The economic docket is fairly quiet today but for a small spat of ‘medium’ ranked data on the DailyFX Economic Calendar, with the weekly US jobs claims data […]

Top trade idea for April 2nd, 2015 – USD/CAD

Still on the usdcad this week too as this market is a special one and the reason for that comes from both a technical and a fundamental perspective. From a technical point of view, as long as the 1.2406 lows in the 4th wave green are not broken, then the scope can only be bullish, […]

USD/CAD – Poloz Did Not Ruffle the Loonie’s Wings

CAD rate cut “buy’s us time” Need time for lower oil prices to have impact BoC to wait on sidelines Higher crude temporarily supporting CAD Governor Stephen Poloz at the Bank of Canada (BoC) said nothing to upset the market balance in his speech in London this morning. The governor has been criticized by various […]

Top trade idea for March 26th, 2015 – USDCAD

Insisting on a higher usdcad as the recent move to the downside failed to take the previous lows at the end of the contracting triangle, namely the 1.2400 lows. This gives us quite a nice rr ratio as the stop for this trade is the 1.2400, but the target is quite handsome: above 1.2900, making […]

Top Trade Idea For March 24th, 2015 –USD/CAD

Not Top Trade Idea. Only Analysis USDCAD is clearly in bullish mode since 2014, but prices has turned down from latest high so it looks like that new correction is underway which is part of an uptrend. We are tracking idea of an expanded flat that can be taking place in current blue wave (4), […]

USD/CAD – Loonie Takes Flight Despite Weaker Crude

Canada Retail Sales a bust in January Oil prices not helping the loonie bear BoC’s Poloz credibility on the line later in the week OIS pricing in another BoC cut in the coming months The Canadian dollar is starting off the week on the front foot (CAD$1.2507) and this despite crude prices trading a tad […]

Commodity Dollars Rise as Yen Gains on Firming Risk Appetite

Talking Points: Commodity Dollars Aim Higher as Yen Falls Amid Firming Risk Sentiment British Pound Declines, Newswires Cite Dovish BOE Rhetoric as Catalyst See Economic News Directly on Your Charts with the DailyFX News App The Australian, Canadian and New Zealand Dollars outperformed in overnight trade as firming risk appetite fueled demand for sentiment-geared FX. […]

The Dollar Meltdown and Rebound – What Did the Fed Do?

Talking Points: EURUSD trades back under 1.0700 after seeing 1.1000 yesterday. USDCAD finds triangle support, trades back to daily 8-EMA. See the March forex seasonality report for trends in the QE-era. Yesterday produced the largest single-day rally in EURUSD since October 27, 2011, at the height of the Euro-Zone crisis. Subsequently, that also marked the […]

Top trade idea for March 19th, 2015 – AUDCAD

Bullish triangle for the audcad cross as this should be part of a zigzag. In order for a triangle to be part of a zigzag we should look for continuation after it is broken but the break should come under strict conditions. That being said, market should not dip below the 0.9650 anymore and this […]

Top trade idea for March 13th, 2015 – USD/CAD

My trade idea 2 weeks ago involved buying USDCAD on a 3rd rejection of the base of the triangle shown on the daily chart. This trade was triggered when price bounced off the triangle support at “e”. Price went on to break through the top of the triangle resistance but has so far failed to […]

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