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Top trade idea for March 27th, 2015 – USD/MXN

Many traders will refuse an each way bet. That is, if a trade goes against them, they won’t reverse and go in the new direction. Usually this is a result of at least one painful “whipsawing” as an inexperienced trader. Yet experienced traders know when to break the rules,, and the Mexican peso’s positioning at […]

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 25th, 2015 – AUD/USD

The US dollar is trading lower again in the aftermath of the FOMC’s surprisingly dovish statement last week and after the durable goods orders became the latest US macro data to disappoint expectations. As well as the pound and euro regaining some lost ground, the commodity currencies have also fared well in recent days, not […]

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), […]

Top Trade Idea For March 20th, 2015 – AUD/JPY

Fashions in trading come and go, and many traders are shaped by their biggest wins and losses. This may explain why share market traders tend towards bearishness. Stocks go up by the stairs, and down in the elevator, meaning share traders often get their largest and fastest wins in falling markets. These happy experiences bias […]

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 18th, 2015 – NZD/USD

Understandably, the focus today is on the FOMC and traders are unnerved about the prospect of an earlier rate hike from the Fed and its impact on the dollar. If the Fed opts to drop the word “patient” from its policy statement then this could give rise to speculation about a June rate hike. 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 […]

Top trade idea for March 12th, 2015 – GBPCAD

The chart above is the gbpcad cross and we are talking about a bearish scenario for it. The reason for it is purely technical as market ended a five waves structure at the highs and now we should correct all the way to 1.83 area. Not only that we have a target in price, but […]

Top Trade Idea For March 11th, 2015 – AUD/NZD

With no new US economic data of note scheduled for release today, the forex market’s recent trends are extending for another day. Of course, the most powerful and influential trend is the pervasive strength in the US dollar: EURUSD tagged a new nearly-12-year low under the 1.0600 level earlier today on continued weakness in European […]

Top Trade Idea For March 10th, 2015 – AUD/USD

Today’s Top Trade Idea  AUD/USD On AUDUSD we see five waves down within an extended wave (3) that found some support at the start of February near 0.7600. Till now the bounce was not that strong so we think that pair made just another corrective move; wave (4) that can be completed around that upper […]

Top Trade Idea For March 6th, 2015 – EUR/JPY

It’s the best of trades, and the worst of trades. The currency wars rage on, as central banks attempt to pillage each other’s domestic demand in an environment of competitive currency devaluation. The fighting is fiercest on the Eastern front, where the united forces of the European Central Bank are smashing into the imperialist resources […]

Top trade idea for March 5th, 2015 – EURJPY

Hunting the second wave of a falling wedge pattern and this kind of correction should take the most time in the whole five waves structure and, more importantly, it should break the previous lows. This means we should see a move below the 130 level, where the previous 1st wave ends and it also means […]

Top Trade Idea For March 4th, 2015 – EUR/NZD

With the EUR/USD being on the verge of taking another leg lower, the EUR/NZD has already started its move.  A day before the European Central Bank meeting, the cross has broken to a fresh record low this morning.  Although not much will be expected from this particular meeting, the focus will be on how the […]

Top Trade Idea For February 27th, 2015 – USD/CAD

Tuesday’s trend peak in Dollar: CAD confirmed the resistance line of a descending triangle formation. This looks to me like a situation that might provide a trade setup in either direction. The bullish scenario comes out of the Elliot wave playbook. The last major swing higher has the potential to be an impulsive 3rd wave […]

Top Trade Idea For February 26th, 2015 – EURGBP

Even though it looks really ugly, the above five waves structure is about to end, if not already ended with a falling wedge in the shape of an impulsive move. I know that the 2-4 trend line is not broken yet, but what really matters is the structure of all those waves of a lower […]

Top Trade Idea For February 25th, 2015 – AUD/USD

In last Friday’s Week Ahead Preview report, we noted that AUDUSD “[had] held up extremely well despite a surprise RBA rate cut and weak jobs report, suggesting that sellers may be growing exhausted around the .7700 handle…” As a general rule, when price action and the fundamental “news” diverge, price is usually proven correct; therefore, […]

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

USDCAD has turned down three weeks back, when pair accomplished a sharp five wave move within an extended red wave 3). If that is the case then traders must be aware of more upside once a corrective wave 4) is complete. Usually wave 4) will retrace for 38.2% compared to wave 3), which in our […]

Top Trade Idea For February 20th, 2015 – AUD/NZD

Australians and New Zealanders share a special love/hate relationship, and at the moment there’s a lot of trans-Tasman Sea chat about the potential for a parity party. In Auckland and Wellington, they’re chilling the champagne in anticipation of Kiwi strength taking the pair to levels not seen since 1997. NZ’s high quality agricultural exports and […]

Top Trade Idea For February 19th, 2015 – GBPUSD

Yesterday the jobs data in UK showed the unemployment rate moving to the downside at a healthy pace and, more importantly, the real wage growth picked up. This should translate in a favorable environment for growth as low inflation should help bring the GDP to better levels than expected. However, the technical picture still favors […]

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