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Top trade idea for July 29th, 2016 – GOLD

Last week’s low in gold looks like a rejection of support and the 38.2% Fibonacci retracement. Moves to the 38.2% level often turn out to be the first move in a deeper correction. Now that this trend is showing itself to be in synch with Fibonacci retracement levels, my trade idea is to sell if […]

Top trade idea for 28th July – EURJPY

EURJPY resilience to move lower after the Brexit vote calls for a more cautious approach to the overall risk sentiment as Bank of England provided more liquidity and Bank of Japan announced another fiscal stimulus package. That being said, this move to the downside that started from the top left corner of the chart above […]

Top trade idea for July 26th, 2016 – AUD/USD

AUDUSD has turned down from 0.7834 high in May after wave C-circled completed a big corrective wave IV flat pattern. A flat has a 3-3-5 sub-wave structure, so it was a contra-trend movement that should send price back to the lows. So far, market made a very good and strong bearish turn to 0.7130 with […]

Top trade idea for July 22nd, 2016 – EUR/USD

Draghi’s dilemma puts EURUSD double bottom in play The ECB’s caution on post Brexit stimulus has seen the Euro pause at chart support. Today’s Flash PMI data might decide whether this turns into a full corrective rally Yesterday, the ECB signalled its perfectly sensible intention to wait until it has a clearer picture of the […]

Top trade idea for July 21st, 2016 – EURUSD

Ahead of the ECB today I would like to show a bearish pattern in the makings on the EURUSD pair and it doesn’t really matter if it is going to be a Euro related move lower or a US dollar move higher, the path of least resistance here is the downside and not the upside. […]

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

“The trend is your friend.” It’s one of the market’s great old sayings and this is exactly the kind of situation it refers to. After a massive decline, the Pound has begun to rally. At this stage, my presumption is that this is a corrective rally. As such its likely to present an opportunity to […]

Top trade idea for July 14th, 2016 – AUDUSD

Ugly pattern on the AUDUSD pair in the sense that we have a double combination to the downside that retraced between 61.8% and 70% only to be followed by a strong bounce higher. However, a closer look at this bounce is telling us that this is no impulsive wave, even though we kind of need […]

Top trade idea for July 13th, 2016

Stocks recovered very nicely and sharply since mid of February so new bullish reversal is here. Reason for a bullish trend is a five wave rise from 1802 which is an impulsive structure that shows direction of a trend. As such, we will continue to look even higher if we consider that recent retracement down […]

Top trade idea for July 11th, 2016 – NZD/CAD

Trading opportunities for currency pair: the NZD/CAD is at the upper limit of the upward trend channel. It’s worth buying from the trend line with 0.9585-0.9663 targets. Example purchase level – 0.9345 (23.6% from 0.8693 to 0.9548). Growth to cancel with a break of the trend line (daily candle closes below this line. On Thursday […]

Top trade idea for July 8th, 2016

If you are hoping for a pull back to buy into the gold rally, there are signs one might be getting close. As we head into the Non-Farm Payroll release, the gold chart is suggesting a short term bias to the downside. Gold may more likely to sell off on jobs data that’s close to […]

Top trade idea for July 7th, 2016 – EURJPY

The chart above shows the EURJPY cross and given the nature of this pattern that formed after the Brexit vote, I would say it is just the beginning to a more ample move and therefore would recommend to stay short for 106.87 with 114.10 stop loss. The whole pattern from the end of wave d […]

Top trade idea for July 5th, 2016 – USD/SEK

Trading opportunities for currency pair: after the Brexit, the USD/SEK switched into a correctional phase. I reckon that it will continue until August and the rate will not surpass the 8.7451 maximum. On the road to the trend line (8.1097) the sellers meet two interim levels: 8.3191 and 8.2186. Any fall will be cancelled by […]

Top trade idea for July 1st, 2016 – EUR/USD

Brexit saw the Euro drop out of its established trend channel on Friday. However, it wasn’t long before markets started focusing on Brexit’s implications for the Fed.  Increased political risk and a lower global growth outlook quickly put the sword to expectations of a Fed rate hike.  Markets are now pricing little chance of a […]

Top trade idea for June 30, 2016 – EURAUD

This week the focus is yet on another cross after last week’s eurjpy trading plan worked like a charm. The chart above shows the euraud pair that seems to be in the last leg of a contracting triangle that from my point of view it is poised to break lower. That being the case, the […]

Top trade idea for June 29th, 2016

Crude oil has turned sharply lower a few days back so it appears that five wave rally up from 35.19 is completed, thus a new three wave move down is underway. We are expecting a corrective decline, labeled as blue wave four that will ideally retrace back to 43-45 area, where we see 38.2% Fibonacci […]

Top trade idea for June 27th, 2016 – USD/CAD

Trading opportunities for currency pair: After the UK referendum, the USDCAD tested the solidity of the trend line. The target zone is 1.3288 – 1.3397. The upper line of channel one passes through it. We just need to wait for the price to strengthen above channel 2 and the trend line. Growth to cancel with […]

Top trade idea for June 24th, 2016 – EUR/GBP

After the UK’s surprise vote in a referendum to leave the European Union, the fall out is significant. GBP fell 15 big figures (FIFTEEN!) against the USD in 5 hours, share markets were smashed and gold rallied $100 an ounce. And they’re just the first blush reactions. Surprisingly, the EUR has held up quite well. […]

Top trade idea for June 23rd, 2016 – EURJPY

In light of the EU referendum that is taking place today in the UK and considering the volatility that is about to come, the logic is to trade a cross as to avoid any US dollar pair as the dollar is perceived as a safe heaven in situations when uncertainty reigns over markets. That being […]

Top trade idea for June 22nd, 2016 – USD/JPY

In 15 hours or so, the voting will begin and soon we will find out whether the UK public has chosen to remain or exit the EU. As you would expect, politicians are making their final pitch for votes on the last day of campaigning as they try to win support of those still undecided. […]

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

Trading opportunities for currency pair: a pinbar has formed on the weekly. On Monday it was activated after an opening with a downward gap. The current quote is 0.7787. The target for the pinbar is 0.7690. We need to enter the market from the bounce with a small volume so as not to risk our […]