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Top trade idea for February 11th, 2016 – EURUSD

Complex correction for the eurusd pair as the move to the upside, despite the fact that it is really aggressive, it is not an impulsive move, but a corrective one. If that is the case, judging by the fact that there were little or no retracements, it means it is a zigzag family pattern and […]

Top trade idea for February 10th, 2016 – USD/JPY

It’s been a busy day so far for central bankers, especially in Japan and the US. As we noted on Monday, the yen has seen massive safe haven / carry trade unwinding flows over the last two weeks, and as a result, USD/JPY is now falling for its 7th consecutive day to a new 15-month […]

Top trade idea for February 9th, 2016 – AUD/USD

AUDUSD has turned nicely down last week from 0.7240 where we expected to see a new turning point after seven legs of recovery from January lows. Recovery was overlapping and slow so we labeled it as a corrective move, probably it was wave C within a big triangle so new three wave decline can now […]

Top trade idea for February 8th, 2016 – GBP/CAD

Trading opportunities for currency pair: the price has broken from the support. We have two pinbars and a double bottom. On Monday it’s better not to make any big deals and keep an eye on the price of oil. If the GBP/CAD doesn’t fall, we could see two price zones as a target: 2.0325 and […]

Top trade idea for February 5th, 2016 – EUR/JPY

The European Central Bank versus the Bank of Japan – who will win? Both are pursuing a “competitive devaluation” strategy through monetary stimulus, both desperately need the boost a lower currency can deliver to their respective economies. Over the last 7 months, the ECB has the edge, but that may change very soon. The BoJ […]

Top trade idea for February 4th, 2016 – EURNZD

The eurnzd cross is forming an interesting pattern here that resembles a pennant so far and the beauty of it is that it comes after a so-called truncated zigzag that needs to be retraced minimum 80% and most of the times the retracement level exceeds 100%. That being said, we want to stay on the […]

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

So weak has been the dollar this week that even the GBP/USD has managed to regain its poise. Clearly, traders are no longer expecting the US Federal Reserve to embark on an aggressive tightening cycle after the central bank had hinted in December at several more interest rate rises when it increased rates for the […]

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

Trading opportunities for currency pair: the euro/dollar has slid to the trend line. From here we could see a bounce since Monday’s movements usually go against Friday’s. The bounce level will tell us how the sellers are set up. A growth to 1.0938 means we should prepare for a break through 1.0985 and then 1.1025. […]

Top trade idea for January 29th, 2016 – AUD/USD

The Aussie Dollar looks like it might be completing a Gartley pattern.  The Gartley is a 3 part correction that sets up for a trade in the direction of the major trend. In this case the correction is a rally, with the major trend being down The Gartley is completed if the corrective rally finishes […]

Top trade idea for January 28th, 2016 – USDJPY

This USDJPY scenario is based on the fact that any three waves structure as a flat pattern needs to retrace minimum 61.8% and this retracement means that we should see another move above 121.34, where the mentioned level stays. It is difficult to imagine what would cause the spike there but we as technicians are […]

Top trade idea for January 27th, 2016 – USD/CHF

Two weeks ago, we highlighted a constructive candlestick pattern off bullish trend line support on USD/CHF and concluded that the pair could well bounce toward near-term Fibonacci resistance levels at 1.0120 (61.8%) and 1.0210 (78.6%). It took its time getting there, but USD/CHF finally edged up to test the 1.0210 level yesterday, leaving the pair […]

Top trade idea for January 26th, 2016 – GBP/USD

GBPUSD made another bearish leg after the price took out 1.4560 level as noted in our past updates. Notice that current decline is extended, so it must be impulsive as part of a much bigger bearish cycle. However, price reached our Fibonacci projected levels for current wave 3-circled where bearish wave can be slowing down; […]

Top trade idea for January 25th, 2016 – GBP/USD

Trading opportunities for currency pair: a candle with a small body and a long lower shade has formed. The rebound was 180 points. It’s likely that we will see an upward correction to 1.4565. Growth will cancel with a close of the weekly candle below 1.4079. Background The last ideas I made on the GBP/USD […]

Top trade idea for January 22nd, 2016 – USD/CAD

Good central banking, like good comedy, is all about timing. The Bank of Canada’s decision to hold off on a rate cut on Wednesday is looking wiser following the oil market rally on Thursday. Oil price weakness is the major driver of cuts to Canadian growth expectations. Any further gains in the oil price, combined  […]

Top trade idea for January 21st, 2016 – EURJPY

Ahead of the ECB we are looking at the eurjpy cross as it is finding itself in a very interesting spot in the sense that a contracting triangle on the daily chart should form. This contracting triangle already has three legs completed, namely waves a, b and c and now we should move above 140 […]

Top trade idea for January 20th, 2016 – NZD/USD

The New Zealand dollar’s weakness was exacerbated overnight when inflation data showed consumer prices fell by a surprisingly large 0.5% in the fourth quarter of 2015. Unsurprisingly, the biggest contributor for the fall in inflation was a 7% drop in petrol prices, while falls in vegetable prices and those of tradable goods and services also […]

Top trade idea for January 18th, 2016 – CAD/JPY

Trading opportunities for currency pair: the CAD/JPY is stuck in a bear trend due to the Chinese stock market crash and a fall in oil prices. If you’re looking to sell the Canadian, then 81.15/30 is your marker. After a rise of the rate to 82.43 we should stave off selling. Whilst the oil and […]

Top trade idea for January 15th, 2016 – USD/CAD

This has been a magnificent uptrend. Recently of course it’s been mainly about oil’s woes and the impact on Canada’s export revenue. Over the past couple of days, the market has shown signs of faltering at and AB=CD level. If there is a trend peak here, the latest swing will be the same size as […]

Top trade idea for January 14th, 2016 – EURAUD

This EURAUD scenario is one for the braves so the actual exposure into this trade should be more conservative than other trades. The reason for this is that we’re actually hunting a pretty rare but powerful structure, namely a flat pattern that will have a double failure. Having said that, it means we need an […]

Top trade idea for January 13th, 2016 – AUD/USD

It’s said that the night is blackest just before the dawn, and investors clearly had a very dim short-term outlook on China’s economy earlier this week. After some aggressive action from the People’s Bank of China (PBOC) and better-than-expected trade data, there is a glimmer of hope on the horizon, but only time will tell […]