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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 […]

Top trade idea for June 17th, 2016 – AUD/CAD

If the Brexit referendum and the chance of extreme volatility it entails is beyond your risk tolerance, here’s a chart that may be of interest. The relationship between the Aussie and Canadian Dollars should be fairly neutral to Brexit. Both are seen as “commodity” currencies. Oil is Canada’s main export while iron ore is Australia’s. […]

Top trade idea for June 16th, 2016 – USDJPY

Despite the fact that last week’s scenario proved wrong, I would like to insist on the fact that this usdjpy is at support and normally we should see a bounce from current levels. What’s interesting is the fact that the move to the upside should be a corrective one, most likely wave b of a […]

Top trade idea for June 15th, 2016 – GOLD

Safe have assets like government bonds and gold are taking a backseat this morning as stocks, crude oil and even the pound bounce back a touch. Clearly, there is an element of profit-taking after this week’s selling of risk-sensitive assets. In addition, traders are wary of a potential surprise from the Federal Reserve at the […]

Top trade idea for June 14th, 2016 – GBP/USD

GBPUSD is in recovery mode since March of this year when pair accomplished an extended five wave drop down in wave III. We know that after a very powerful leg, market will make a corrective retracement which will either be simple or complex. In our case we think it’s something more complex in wave IV […]

Top trade idea for June 10th, 2016 – AUD/USD

Commodity currencies usually fall when metal and energy prices drop – it’s on the lable.  A strengthening USD should push commodity prices lower. Therefore, if USD strength is returning, any commodity currency priced against the USD could suffer a double whammy selling effect. Come in AUD/USD. In volatile trading AUD/USD hit  a high above 0.7830 […]

Top trade idea for June 9th, 2016 – USDJPY

Going against the general trend here with the USDJPY being at a dynamic support given by the channeling component of a double combination and the only logical thing is to try a long trade from current levels with 104.66 stop loss and around 112 take profit. I know the late NFP number was hurting the […]

Top trade idea for June 8th, 2016 – GBP/CHF

The pound was struggling on Wednesday morning to add to the gains made Tuesday when fresh polls showed support for remain was narrowly ahead of the exit camp, contradicting surveys released on Monday and at the weekend which had suggested the campaign for Brexit was ahead. Sterling did however enjoy a small bounce on the […]

Top trade idea for June 6th, 2016 – EUR/CAD

Trading opportunities for currency pair: the EUR/CAD has restored to the upper limit of the “1-1” channel. Since the NZD/CAD has broken through the trend line on the daily time-frame and the EUR/CAD and NZD/CAD have a positive correlation, it’s highly likely that it could shoot to 1.5077. The target is by the upper limit […]

Top trade idea for June 3rd, 2016 – GBP/USD

The Brexit vote has been the key driver of the Pound’s fortunes in recent months. Ever changing poll results seem to have driven a lot of twists and turns in the currency. Interestingly though, if you stand back and take a bird’s eye view of the daily chart, there’s been a lot of symmetry in […]

Top trade idea for June 2nd, 2016 – EURGBP

This EURGBP ahead of the ECB is as tricky as tricky can be but, despite the recent strength in the last days, I am looking for a move back to that 38.2% level and this means 0.7550 to come sooner rather than later. It may be related to the ECB meeting today or it may […]

Top trade idea for May 31st, 2016 – USD/JPY

USDJPY bounced from the lows so we think that bottom, at least temporary one, has been found based on two counts we are tracking. First wave count is still a primary one that shows a double zigzag down from 2015 highs and suggests a continuation higher after a completed wave IV up into big wave […]

Top trade idea for May 30th, 2016 – GBP/JPY

Trading opportunities for currency pair: since 6th May a bull trend has been forming on the cross. The rate is rising via a complex formation with 28 and 33 bar periods. A break through the 162.50-162.80 resistance zone is expected after 31st May. The targets for the buyers according to the upper limits of the […]

Top trade idea for May 27th, 2016 – NZD/JPY

NZD/JPY Anti-trade As a floor trader and market-maker in share options I used to cover 5 stocks actively, and kept an eye on another dozen or so. I was always on the look-out for a free bet – a trade that cost nothing or close to nothing, that had significant upside. In principal, I still […]

Top trade idea for May 26th, 2016 – USDCHF

I am bullish USDCHF here as no matter how you look at this structure on the daily chart there is only one conclusion that can be drawn: it is a corrective pattern. Not only that it is a corrective pattern, but it should be followed by an impulsive wave so the move that started from […]