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Top Trade Idea for May 3rd, 2016 – USD/CAD

USDCAD has been trading quite aggressively lower for the last couple of weeks after a decisive break out of an upward channel connected from May of 2015 lows, which is an important evidence for a change in trend. That said, price of USDCAD is likely going even lower as we assume that this is now […]

Top trade idea for April 29th, 2016 – USD/JPY

Contrarian traders lead a miserable existence. Around half the time, their trading peers consider them eccentric. Some of the time they suffer as fools, and at times are cast as dangerous lunatics. This is the price of defying popular opinion. However, for a few days a month, or perhaps a few weeks a year, they’re […]

Top trade idea for April 27th, 2016 – NZD/JPY

The focus for much of the week has been on the FOMC statement, which is understandable given the lack of any clear trend for the dollar and especially for the EUR/USD pair. As it has turned out, the Fed left interest rates unchanged as expected but in a surprise move it has removed from its […]

Top trade idea for April 25th, 2016 – AUD/USD

Trading opportunities for currency pair: a pinbar with an upper shade of 130 points has formed on the weekly. It’s a shame that the body is bullish. It’s highly likely that there will be a bounce. Look to sell from 0.7760 with a 0.7535 target. If the trend line is broken, set a target at […]

Top trade idea for April 22nd, 2016 – GBP/AUD

This has been a big downtrend. The Pound has been hit by the Brexit vote while the Aussie Dollar has ridden the wave of an unexpected resurgence in commodity prices. Chief among these has been Australia’s main export, iron ore. Despite a bearish consensus outlook, the spot iron ore price is up 84% from its […]

Top trade idea for April 21st, 2016 – GBPCAD

The GBPCAD chart above is actually coming from the weekly time frame but I zoomed out on the daily to see the details much better. We have an impulsive move to the upside, or a five wave structure that seems to be ended with a failure. In reality, it is not possible to be a […]

Top trade idea for April 20th, 2016 – EUR/GBP

The outcome of the European Central Bank’s latest policy decision is due on Thursday. Having just expanded QE at the last meeting in March, the ECB is unlikely to alter its policy further at this meeting. Investors will therefore focus on Mario Draghi’s comments, in particular for any hints on cutting the deposit rate further […]

Top trade idea for April 19th, 2016 – USD/CHF

USDCHF has turned sharply higher last week, clearly with impulsive price action away from 100% Fibonacci level of wave A) compared to wave C). We have seen a very strong turn back above black wave 4 swing that puts a low in place so we need to be aware of even more upside in days […]

Top trade idea for April 18th, 2016 – NZD/CAD

Trading opportunities for currency pair: negotiations in Doha have collapsed. From trade opening on Monday, oil has fallen to $41 per barrel, the NZD is up to 0.8945 against its Canadian counterpart. A double bottom and bull divergence has formed on the daily graph, as has happened on 23rd March earlier this year. Based on […]

Top trade idea for April 15th, 2016 – GBP/USD

Spurning Sterling The chances of a Brexit appear low, at least judging by the more reliable phone polling as opposed to the self-selected internet polls. However, the uncertainty in the lead of to the June 23 referendum in Great Britain could weigh on the pound – and a fall from current levels would breach important […]

Top trade idea for April 14th, 2016 – USDCHF

Despite the move higher I am looking for another pullback on the USDCHF pair and if you want the fact that it is hesitating at this upper side of a channel makes the trade quite appealing. It is a risky trade though as possibilities for this triangle at the end of a complex correction are […]

Top trade idea for April 13th, 2016 – USD/CAD

The USD/CAD is in focus today and will remain so for a good few days ahead of Bank of Canada policy decision, US and oil stockpiles data all on Wednesday, and Russia-OPEC meeting at the weekend. The general feeling is that an agreement between Russia and large OPEC members will be reached in Doha on […]

Top trade idea for April 8th, 2016 – GBP/USD

The Pound is a chance of completing a “Gartley” buy set up from here. The 78.6% Fibonacci retracement intersects around 1.398 while the move down to this level has been in 3 swings (2 in the direction of the retracement with a correction in between). The harmonic level where the AB swing is the same […]

Top trade idea for April 7th, 2016 – NZDUSD

This NZDUSD pair is anything but bullish and from my point of view bears should try to push it below 0.630 again, hence our target. The thing is that the corrective move to the upside, or the green a-b-c is a so called flat and most likely it is a simple correction as it is […]

Top trade idea for April 5th, 2016 – USD/CHF and USD/JPY

USDCHF USDCHF did not go far for the last 48 hours so it appears that bears are still here and that current sideways price action is just another pause within down trend. That said, we think that USDCHF is going to see a new low soon, out from a triangle that already shows signs of […]

Top trade idea for April 1st, 2016 – USD/JPY

Some traders don’t trade through major data releases. Their reasoning is often that the numbers are simply a roll of the dice, and the potential risks equal or outweigh the potential profits. I disagree. It’s not just a question of timidity. Trading platforms are becoming more sophisticated, and there are tools that traders can utilise […]

Top trade idea for March 31st, 2015 – GBPUSD

This GBPUSD look bearish from my point of view even though the triangle you can see forming on this daily chart can be a bullish one. But I doubt that. The thing is that the whole move from the upside is nothing but a corrective wave, namely part of a double combination that started when […]

Top trade idea for March 30th, 2016 – GOLD/SLIVER

Gold Deficit Nearing Never before in modern history have central banks gone all out en masse with negative interest rates. First the US, then the Japanese, then the ECB, Swiss, English and then the Chinese joined the party; all trying to rear back inflation under control; throwing out the rule book and reopening the text […]

Top trade idea for March 24th, 2016 – EURUSD

Despite the ECB failing to keep the rate lower and the Fed being extremely dovish on the US dollar, I am looking for EURUSD to move lower and therefore would like to sell any bounce into 1.1250 area. We may not even have that bounce as now a lot of people are being trapped at […]

Top trade idea for March 23rd, 2016 – NZD/USD

The dollar remains the currency market’s standout performer for the second straight day, gaining value against each of its major rivals after this morning’s as-expected New Home Sales report. Despite consistent strength in the greenback each day this week, the world’s reserve currency is still down from its pre-Fed levels of last week, so it’s […]