Today is Mon, July 28, 2014 14:47:35 GMT
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Forex News trade of the day

Top Trade Idea For July 28th, 2014 – AUD/CHF

As a keen skier, it’s no surprise that Switzerland is one of my preferred European destinations given its slopes, scenery, crisp air and hiking. But during the past year or so, something has been missing. Where are all the Australians? That very distinctive accent has been heard less and less during the past year and […]

Top Trade Idea For July 25th, 2014 – AUD/CAD

Aussie/CAD is testing trend line resistance with momentumoscillators like the slow stochastic in the overbought zone. The high of today’s candle is so far well below yesterday’s high. If we also move below yesterday’s low the chances are we will finish the day with both a lower high and a lower low. Assuming this is […]

Top Trade Idea For July 24th, 2014 – EURGBP

I would like to take a look at the eurgbp cross this week as it is forming/ending one of the most complex forms of correction on this four hours chart you can see above and from my point of view that is a nice risk reward ratio to get out of this setup. I am […]

Top Trade Idea For July 23rd, 2014 – USD/JPY

Out of all the major currency pairs, the USDJPY has undoubtedly been one of the dullest thus far this year. The pair has been trapped within a tight range from roughly 101.00 to 104.00 since mid-January, driving the average weekly range (ATR) to levels not seen since before the introduction of Abenomics in Q3 2012. […]

Top Trade Idea For July 21st, 2014 – EUR/CAD

Since mid-March, the euro has lost about 7% of its value against the Canadian dollar. This trend seems likely to continue but has paused around the 1.4441 level. While it seems poised to move higher in a countertrend move possibly towards the 1.50 level, we recognize the price action of the countertrend and see a […]

Top Trade Idea For July 18th, 2014 – AUD/USD

Aussie Dollar has developed quite pronounced support just below .9330. This area coincides with the 30 May peak and the market has since failed to move below this area on 3 occasions. This time around, price has found this level having made both a lower low and a lower high. In these circumstances a break […]

Top Trade Idea For July 17th, 2014 – EURAUD

Interesting place for the euraud pair as the cross is sitting on a pivotal area both in terms of conflicting fundamentals between the two currencies and technicals. For the Euro part of the equation, the heavy tone we saw lately started with the ECB and the easing measures the central bank took lately but we […]

Top Trade Idea For July 16th, 2014 –GBP/USD

The pound lost some ground this morning in reaction to the UK labour market data. As expected, the unemployment rate fell to 6.5% in May from 6.6% in April, while jobless claims dropped by 36,300 applications last month which was better than expected. However, earnings growth was again weaker, which remains one of the main […]

Top Trade Idea For July 15th, 2014 –AUD/USD

Today we will take a look at AUDUSD pair and discover a potential trading opportunity.  If you are following AUDUSD regularly then you will know that pair has been in uptrend since start of the year. Pair rallied almost 800 pips in seven months, but this trend can be changing now. Let’s take a look […]

Top Trade Idea for July 14th, 2014 – USD/NOK

In the past few months, the Norwegian krone has performed poorest amongst the G10 currencies. With no evidence that the weakness has ended, we’ve been waiting for another opportunity to enter a trade. Asa pullback began in USD/NOK overa week ago, this article will discuss a way to trade that weakness.   This percentage change […]

Top Trade Idea for July 11th, 2014 – AUD/USD

The AUD/USD pair is tiring. USD weakness and good trade data from China saw AUD attempt higher levels, only to fade each time. Traders have heard it all before – but Aussie weakness may arrive once most traders have given up their shorts. The chart below shows the last 3 peaks. The previous 2014 high […]

Top Trade Idea For July 10th, 2014 – GBPUSD

Bank of England today and what a perfect occasion to take a look at the gbpusd pair and due to the fact that price is refusing to break the 1.72 area opens the case for a rising wedge. This rising wedge comes in the form of a terminal impulsive move that act as a bearish […]

Top Trade Idea for July 9th, 2014 – USD/JPY

The markets are mostly comatose today as we wait for the FOMC minutes this afternoon. Until then we think that tight ranges will prevail. While it is always a tough call to predict anything that comes out of the Fed, we think that, on balance, the message could be less dovish than recent statements. We […]

Top Trade Idea For July 8th, 2014 – GBP/USD

Having established a 6 year high against the dollar, the pound has given back some of its recent gains with British factory output suffering an unexpected slump in May. What is interesting is that this is a sector that recorded its strongest growth in the three months to April and despite some positive private sector […]

Top Trade Idea For July 7th, 2014 – AUD/NZD

Since early June, the New Zealand dollar has been the antipodean dollar of choice. The cross rate has moved 3.5% from 1.1035 to 1.0666 during those few weeks. While medium term analysis suggests that the trend lower may continue, in the nearer term, we may be due for a pullback. Today’s countertrend trade will look […]

Top Trade Idea For July 4th, 2013 – USD/JPY

Last night’s strong US jobs numbers should lead to USD strength as traders factor the potential for higher interest rates sooner. With many US traders distracted by the Independence Day celebrations, it’s possible further USD buying will emerge on Monday – giving the rest of the world a head start. The JPY offers itself as […]

Top Trade Idea For July 3rd, 2014 – EURUSD

Being an ECB day I decided to take a look at the eurusd pair and actually my strategy here will be to buy the dip into this NFP and Draghi day. From a fundamental point of view there is nothing what the ECB could do on the rate announcement, but the press conference should be […]

Top Trade Idea For July 2nd, 2014 – USD/NOK

The USDNOK has been in rally mode for the last two weeks, when the Norges Bank explicitly pushed back its timeline for hiking interest rates to the end of next year (vs. the middle of 2015 previously). In fact, the central bank even hinted that it may have to cut interest rates in the interim […]

Top Trade Idea For July 1st, 2014 –Crude OIL

Price on crude oil has turned bullish in May and based on some strong reactions in the last two months with a clear direction we suspect that market is forming an impulsive recovery. Impulses are five wave patterns, so until we get five waves we will look for higher levels. Well, on the 4h chart […]

Top Trade Idea For June 30th, 2014 – AUD/USD

During the month of June, AUD/USD tried on four separate occasions to break above 0.9450/60 but was thwarted each time. Perhaps Professor Randy Pausch** said it best “… brick walls are there for a reason ….  (they) give us a chance to show how badly we want something. Because the brick walls are there to […]

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