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Forex News trade of the day

Trade Of The Day For August 29th,2014 – AUD/JPY

Despite the wishes of RBA Governor Glenn Stevens, the AUD continues to defy gravity. Lower commodity prices should see lower terms of trade, and a lower Aussie, yet the currency continues to frustrate short sellers. Eventually, USD strength as stimulus is withdrawn should see a lower AUD/USD. But the AUD/JPY chart is telling a different […]

Top Trade Idea For August 28th, 2014 – AUDUSD

For the audusd pair there is still trouble ahead as the path of least resistance seems to be still to the downside and not the upside like recent price action might indicate. The thing is that the pair is consolidating for the last 5 months around 0.95 and 0.9300 levels, so 200 pips range that […]

Top Trade Idea For August 27th,2014 – EUR/CHF

Since the Swiss National Bank (SNB) imposed its peg in EUR/CHF, this cross has only traded below 1.20 a handful of times, and each time it has bounced off this important level of support. In the three years that the peg has been in place, the market hasn’t tested the SNB’s resolve with any gusto. […]

Trade Idea For August 25th,2014 – USD/NOK

Over the past few weeks, USD/NOK (Norwegian Krone) has fallen almost 3% from almost 6.31 to 6.13. The subsequent pullback from 6.13 has also been weak only reaching 6.20. As we feel it should reach 6.22-6.24, we’ll discuss a way to place a trade allowing for the fact that we’re unsure which form the correction […]

Top Trade Idea For August 24th, 2014 – EUR/JPY

The August holidays seemed to have just gone by while the end of the month is fast approaching but most anticipation through market sentiments are focused on both the Euro zone’s deteriorating economic situation versus a more positive outlook for the US right after Yellen’s and Draghi’s speech at Jackson Hole last week. What would […]

Trade Idea For August 22nd ,2014 -GBP/CAD

After several months of sideways drift, the pound now has the potential to break down against the Canadian Dollar. Comments by Mr. Carney and well behaved UK inflation have recently exerted downward pressure. My trade idea is to sell on a clear break below the 200 day moving average looking for a deeper correction of […]

Top Trade Idea For August 21st, 2014 – EURUSD

It is a while now since we looked at the eurusd pair and it is time to see what recent moves indicate for the short/medium term. From the moment the pair almost touched the 1.40 level price new nothing but the downside with some vicious moves, leaving bulls not the slightest chance to exit a […]

Top Trade Idea For August 20th,2014 – USD/JPY

USDJPY: navigating central bank risk The Jackson Hole conference of central bankers may not be everyone’s idea of a barrel of laughs, but it can be big news for your portfolio. In the past, central bankers have used these speeches to announce changes in monetary policy; this is where Ben Bernanke first announced the prospect […]

Trade Idea For August 18th,2014 – EUR/CAD

Predicting reversals can be risky. Last week, we expected a EUR/CAD reversal near 1.4550. On Friday, EUR/CAD reversed at 1.4546 and is currently heading higher. We expect that move higher to end soon and will discuss a EUR/CAD short trade based on the same approach for predicting the reversal at 1.4546. This half-hourly chart shows […]

Top Trade Idea for August 17th, 2014 – AUD/USD

Last week’s projection for the EUR/USD did materialize nicely since previous hints by experts were backed up by various sources about how situation in the euro zone especially its’ overall economic outlook wasn’t too rosy but rather murky instead. In saying that, the harmonic ‘M’ pattern that was formed at the time, confirmed the downwards […]

Top Trade Idea For August 15th, 2014 – RUB

Ruble to Rise from the Rubble “The country has plunged into a bloody chaos, a fratricidal conflict, a humanitarian catastrophe has hit south eastern Ukraine. We will do all we can to stop this conflict as soon as possible and end bloodshed in Ukraine.” This statement was made by: a)    German Chancellor Merkel b)    US […]

Top Trade Idea For August 14th, 2014 – EURJPY

The above chart is the daily char on the eurjpy pair and the whole pattern from the lows until the triangle on the top of the chart is nothing but a so called double combination. This means that the move to the upside is actually corrective, not impulsive, formed out of two different corrective waves […]

Top Trade Idea for August 13th 2014 – USD/JPY

A few weeks ago, we raised the possibility that USDJPY could see a breakout from its 7-month descending triangle pattern (see “Time for USDJPY Traders to Wake Up?” for more). A few days later, the pair broke out of the pattern, eventually running up to 103.00 before losing steam and pulling back to 101.50 last […]

Top Trade Idea For August 12th, 2014 –USD/CAD

Hello everyone! In today’s article we will take a look at USDCAD which has been in a significant recovery for the past five weeks away from 1.0600 area. Market recovered in very sharp manner, referred as an impulse in Elliott Wave terminology.  You will notice that pair also took out an important downward channel a […]

Trade Idea for August 11th, 2014 – USD/CHF

For most of July, USD/CHF (Swiss Franc) steadily rose about 250 pips or 3% from 0.8855 to 0.9106. Since then, the price action has been range-bound in an 85 pip channel between around 0.9030 and 0.9115. We feel the rise should reach 0.9150 and will suggest a way to trade that.   This four-hour chart […]

Top Trade Idea For August 10th, 2014 – EUR/USD

As most Christian dominated countries especially in Europe are in a vacations mood for the August holidays and following the ‘Assumption of Mary’ school break next week, the debt crisis in the euro zone may not be as carefree as to enjoy the holidays so will the effect of the crisis re-emerge? Talking about the […]

Top Trade Idea For August 8th, 2014 – EUR/GBP

After a major decline, the net effect of price movement in the Euro against the Pound since early July has been a broad drift sideways. This loss of momentum often comes before a change in trend.  It’s early days yet, but EURGBP is starting to get a head and shoulder look about it.My trade idea […]

Top Trade Idea For August 7th, 2014 – GBPAUD

After the terrible employment data in Australia I am saying that the market has just ended a contracting triangle on the gbpaud pair that is about to break higher. Like any contracting triangle, this one travels between the a-c and b-d trend lines and by the time the b-d trend line is broken we should […]

Top Trade Idea For August 6th, 2014 – NZD/USD

It seems like a long time ago when the NZD/USD was pressing against the 2011 peak of around 0.8800/40. A verbal intervention from the RBNZ was enough to shoot it down by a few hundred pips from there, and the Kiwi was pressured further by continued falls in New Zealand’s dairy prices.  But with interest […]

Top Trade Idea For August 5th, 2014 – AUD/USD

The RBA, as expected left rates unchanged at 2.5% today. This is the 12th consecutive month that rates have been kept on hold – the longest single period since 2006. The general expectation is that the RBA will stand pat until the first half of 2015 at the earliest. The RBA did however state that […]

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