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Forex News trade of the day

Top Trade Idea For December 24th, 2014 – EUR/USD

It is understandably a very quiet day with the stock markets in Italy and Germany closed for the Christmas Eve. Elsewhere, most traders are probably out today too although that does not necessarily mean the markets won’t move. In fact, the lack of volume means there could be bouts of high volatility. Still, that will […]

Top Trade Idea For December 19th, 2014 – USD/RUB

Russian Rouble Roulette It’s hard to go past the Russian rouble as the traders’ choice, given the extraordinary volatility. Extreme price movements demand traders respond with aggressive risk management, but the potential rewards for a good entry are attractive. Trading USD/RUB is not for the inexperienced. However, traders willing to adapt to the environment may […]

Top Trade Idea For December 18th, 2014 – AUDUSD

Yesterday’s FOMC decision and press conference was followed by a US dollar buying mood all over the dashboard as the Fed basically gave a timing for the possible future rate hike: a couple of more meetings away. However, if I were to pick an opposite view, I would pick audusd as a good candidate, and […]

Top Trade Idea For December 17th, 2014 – GBP/USD

As strange as it sounds, the tone of trade for the rest of the week, and perhaps even the rest of the year, could hinge on just two words. The Federal Reserve will release its monetary policy statement and summary of economic projections at 2:00pm ET (19:00 GMT), followed by the press conference with Fed […]

Top Trade Idea For December 16th, 2014 – EUR/GBP

In today’s analysis we will take a look at EURGBP which is in downtrend actually since 2008 as showing on the weekly chart below. On that count we are looking at a double zigzag, now with wave C) in progress that can complete wave (Y) sometime next year. But notice that pair for now still […]

Top Trade Idea For December 15th, 2014 – USD/CHF

After three successful USD/NOK (Norwegian krone) long trades in recent weeks, it’s time to look elsewhere. In so doing, we’re not suggesting the oil price fall has ended. However, we have noticed price moving and closing below a four month uptrend line that may be worth some consideration. We’re talking about “the franc” (the Swiss […]

Top Trade Idea For December 12th, 2014 – EUR/JPY

On Monday (Sunday night), the Tankan manufacturing indices for Q4 are released in Japan, along with Tokyo condominium sales. Weaker industrial production and capacity utilisation numbers this morning have expectations trending down, but the Yen has not fallen with them. This may mean that the weaker reads are already priced in. With no major European […]

Top Trade Idea For December 11th, 2014 – EURGBP

Against all odds as it may seem, I am really bullish the Euro as a whole and eurgbp in particular even after today’s TLTRO’s in Europe were released. The fundamental picture doesn’t look pretty for the euro but, despite that, technical picture is quite bullish. The cross here has been falling in a beautiful waterfall […]

Top Trade Idea For December 10th, 2014 – AUD/NZD

The weaker inflation figures released from China overnight have been shrugged off by both the AUD and NZD. Investors are perhaps now fully anticipating some more stimulatory action from the PBOC, which would thus be good news for the Australian and New Zealand economies (with China being their largest trading partner).  Anyway, I am looking […]

Top Trade Idea For December 8th, 2014 – USD/NOK

Last week’s USD/NOK long trade idea succeeded (see http://www.forexnews.com/blog/2014/12/01/top-trade-idea-december-1st-2014-usdnok) making it the second time in a recent weeks we’d successfully traded USD/NOK (and as suggested last week, it would be quicker to complete than the first USD/NOK setup). The oil price fall remains the key topic of conversation so given its strong inverse correlation to […]

Top Trade Idea For December 5th, 2014 – GBP/USD

Along with inflation, the US jobs number is the key driver of Fed monetary policy. This of course makes the jobs number a key driver for $US exchange rates. Heading into the number, a common technique for chart based traders is to look for situations that might trigger a trade setup if the jobs number […]

Top Trade Idea For December 4th, 2014 – AUDUSD

I want to trade the audusd to the upside this week as from my point of view we have a nice five waves structure for the pair and it seems that the falling wedge is completed, of if not completed, will complete around 0.8350 level. After an impulsive move with a third wave extension, there […]

Top Trade Idea For December 2nd, 2014 – AUD/JPY

Today, we will take a look at AUDJPY, which has been in nice and strong uptrend for the past few weeks. But what I spotted lately is a five wave decline from the high. This is always very significant, and important information as it tells me that something is changing. So even if trend has […]

Top Trade Idea For December 1st, 2014 – USD/NOK

A few weeks ago, we wrote an article recommending a trade to buy USD/NOK (Norwegian Krone) soon after it had fallen from 6.93 to 6.71 (see http://www.forexnews.com/blog/2014/11/10/top-trade-idea-november-10th-2014-usdnok). At the time, USD/NOK was around 6.75 and our long trade targeted 6.96 (Friday’s close was above 7.00). We feel there’s a little more upside to USD/NOK and […]

Top Trade Idea For November 28th, 2014 – AUD/USD

Falling commodity prices – noticeably iron ore and oil – are putting further downward pressure on AUD/USD. Stakeholder interests are largely aligned here. The RBA, the government and business all have a lower exchange rate on their Christmas wish list. The current drop has pushed the pair below the four year lows, and a big […]

Top Trade Idea For November 27th, 2014 – EURUSD

The chart above is quite a simple analysis in the sense that the eurusd is forming on the lower time-frames (actually ended) a terminal impulsive move and this pattern is visible on the four hours and the hourly chart as well. What is important at this move is that this lows the market made at […]

Top Trade Idea For November 26th, 2014 – EUR/JPY

Today it is all about the dollar as three days’ worth of US macroeconomic pointers will be published in the space of just a few hours to avoid conflicts with Thursday’s Thanksgiving holiday. The US data dump could lead to a volatile afternoon session for the major currency pairs denominated in the buck. Speculators who […]

Top Trade Idea For November 24th, 2014 – GBP/NZD

Since late September, GBP/NZD (‘the pound’ against the New Zealand dollar) has fallen 1400 pips. We feel that this trend will continue and will discuss a trade for expected move lower. The recent move higher provides an opportunity to trade it short. This eight-hour GBP/NZD chart starts at the early November 2014 high of 2.0812 […]

Top Trade Idea For November 21st, 2014 – EUR/AUD

The Euro is forming a Gartley 222 pattern against the Aussie Dollar. The Gartley is a 3 part correction “A” to “B”; “B” to “C” and finally “C” up to “D”. The move being corrected is usually labelled XA In this case the CD swing has arrived at a 78.6% Fibonacci correction of XA  My […]

Top Trade Idea For November 20st, 2014 – EURGBP

This week I would like to take a look at the eurgbp pair as from my point of view there is still room to go to the upside and therefore would favor a move above 0.81, having 0.8104 and 0.8194 targets while 0.7900 would be the invalidation level. The thing is that the 0.800 level […]