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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

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 […]

Top Trade Idea For February 18th, 2015 – EUR/GBP

The pound has surged higher following a brief hiccup at the start of the week, supported by some really good jobs market data from the UK. The main highlight was the 2.1% increase in wage growth in the three months to December. The figure, which includes bonuses, was up sharply from 1.7% the month before […]

Top Trade Idea For February 13th, 2015 – NZD/USD

Kiwi Crush In 2014, New Zealand led the world. Record highs for the NZ dollar, one of the best growth rates in the developed world, and the first central bank to lift rates in this cycle.  Since July 2014, the Kiwi is down 14 big figures. A recent bounce could offer traders looking to join […]

Top Trade Idea For February 12th, 2015 – USDJPY

Looking at the daily chart above and the usdjpy seems to be still in a bullish stance as the 4th wave formed there a contracting triangle that broke lower by the time the NFP was released last Friday. From that moment on, all eyes moved on the all important 120 as it is acting as […]

Top Trade Idea For February 11th, 2015 – EUR/USD

The sun rises on a new trading day, and with a rising sun comes optimism for a better future. In this case, traders are optimistic that today’s Eurogroup meeting of European finance ministers could come to an agreement on restructuring Greece’s debt. As my colleague Kathleen Brooks noted yesterday, Greece is in a perilous situation, […]

Top Trade Idea For February 10th, 2015 – USD/CAD

Last week we said to our members that USDCAD can go back to 1.2400 which has happened but with much more aggressive price action than was expected. Notice that reversal from the high occurred with one leg, so we assume that it belongs to a bigger corrective retracement. We labeled first leg down as wave […]

Top Trade Idea For February 5th, 2015 – EURUSD

Even though this is just the hourly chart on the eurusd, it is still worth talking about the pair as from a technical point of view it is forming a double combination as a leg of a contracting triangle and previous highs in the 1.15 levels should be broken. The other day saw the euro […]

Top Trade Idea For February 4th ,2015 – EUR/GBP

The EUR/GBP has come under a bit of pressure today amid continued uncertainty surrounding Greece and following the release of some economic data from both the Eurozone and UK. Admittedly, the Eurozone services PMIs were not bad with Spain’s one being the most eye catching, which printed 56.7 for January versus 54.3 in December. Italy’s […]

Top Trade Idea For January 30th, 2015 – Gold

Buy gold if it rejects retracement level Yesterday wasn’t a pretty trading session for gold bugs but the latest pull back may have created an opportunity for potential buyers. At this stage gold has come to rest at the 38.2% Fibonacci retracement level. Two things add to the potential significance of this level as a […]

Top Trade Idea For January 29th, 2015 – USDCHF

January was clearly the CHF month as the SNB dropping the 1.20 eurchf peg brought a higher chf all over the dashboard. However, I started to like the usdchf pair as from a technical point of view the whole move lower seems to be an impulsive move that ends a flat pattern on the bigger […]

Top Trade Idea For January 28th, 2015 – USD/JPY

The sun rises on a new trading day, and traders rolled out of bed particularly eagerly today in anticipation of the Fed’s monetary policy announcement. With a staggering number of central banks across the world turning more dovish over the past two weeks, traders are starting to wonder if the Fed can maintain its moderately […]

Top Trade Idea For January 27th, 2015 – AUD/USD

On Aussie we have seen another leg down last week, beneath 0.8000. Based on the latest decline and extended structure from the past few months, we suspect that market will not bottom so soon. We are looking at an updated count now that shows we are in wave five of (3) so price will be […]

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