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Top trade idea for August 26th, 2016 – USD/SGD

The annual meeting of central bankers at Jackson Hole is here at last. MsYellen’s set speech, entitled “The Federal Reserve’s Monetary Policy Toolkit”, may or may not attempt to move market thinking towards a faster interest rate tightening cycle. Before you say “meh”, consider the market positioning. The forward interest rate curve varies but is […]

Top trade idea for August 25th, 2016 – EURAUD

This EURAUD cross looks bullish as market is forming a possible head and shoulders formation that had the dip right from the potential bouncing place. This is the 5th time the pair is jumping from that area and it open the gates for a prolonged move above 1.50. Ahead of a US dollar driven event […]

Top trade idea for August 23rd, 2016 – USD/NOK

On the 4h chart of crude oil we can see that price made a nice rally from the lows, for now in three waves but because of strong bullish momentum with sharp price action up to 161.8% Fibonacci ratio, we believe market made wave 3) as part of a bullish impulse. That said, current downward […]

Top trade idea for August 19th, 2016 – AUD/USD

The Aussie has lost upward momentum against $US this week. On the chart this is indicated by: A trend peak under the upper Bollinger Band following the strong momentum peak above it and The slow stochastic indicator now trending down from the overbought zone. From here, a break below the 20 day moving average would […]

Top trade idea for August 18th, 2016 – EURUSD

The EURUSD looks set to completely retrace the Brexit move if one is judging by the aggressiveness of this bullish reaction. However, from my point of view this is nothing but a bearish triangle part of a double combination and this triangle needs to break lower, not higher. That being said, staying short and fading […]

Top trade idea for August 12th, 2016 – USD/JPY

Many traders do their utmost to avoid crowded trades. Usually, they were hurt at some stage in their trading career by a “buy the rumour, sell the fact” scenario. That is, their analysis was right, but the market moved the “wrong” way. This is the reason some traders will deliberately seek different parameters, different ways […]

Top trade idea for August 10th, 2016 – NZD/JPY

Tonight’s key fundamental event is the Reserve Bank of New Zealand’s policy meeting, scheduled for 22:00 BST or 17:00 ET. The RBNZ is widely expected to trim interest rates 25 basis points to a new record low of 2.0 per cent. The market seems to have mostly priced in this scenario. The RBNZ will therefore […]

Top trade idea for August 9th, 2016 – GBP/USD

S&P500 is trading nicely higher this month, currently at new all-time high after a completed flat correction in wave 4) at 2139 support area. As such, current leg up is red wave 5) that can be headed up to 2200 psychological region where traders need to be aware of resistance that may send index into […]

Top trade idea for August 5th, 2016 – GBP/AUD

Both the Reserve Bank of Australia and the Bank of England cut rates this week. However, there is a clear difference in the performance of the respective currencies. Sterling’s move was a text book response, but the Aussie confounded expectations by rising. Naturally, this has traders watching GBP/AUD closely. The RBA cut rates on Tuesday […]

Top trade idea for August 4th, 2016 – AUDUSD

The ugly chart above is the audusd pair that is looking as bearish as bearish can be despite the heavy buying on each and every dip. Not even the RBA (Reserve Bank of Australia) rate cut wasn’t able to bring this beast down, despite the fact that only 70% chances were priced in. It doesn’t […]

Top trade idea for July 29th, 2016 – GOLD

Last week’s low in gold looks like a rejection of support and the 38.2% Fibonacci retracement. Moves to the 38.2% level often turn out to be the first move in a deeper correction. Now that this trend is showing itself to be in synch with Fibonacci retracement levels, my trade idea is to sell if […]

Top trade idea for 28th July – EURJPY

EURJPY resilience to move lower after the Brexit vote calls for a more cautious approach to the overall risk sentiment as Bank of England provided more liquidity and Bank of Japan announced another fiscal stimulus package. That being said, this move to the downside that started from the top left corner of the chart above […]

Top trade idea for July 26th, 2016 – AUD/USD

AUDUSD has turned down from 0.7834 high in May after wave C-circled completed a big corrective wave IV flat pattern. A flat has a 3-3-5 sub-wave structure, so it was a contra-trend movement that should send price back to the lows. So far, market made a very good and strong bearish turn to 0.7130 with […]

Top trade idea for July 22nd, 2016 – EUR/USD

Draghi’s dilemma puts EURUSD double bottom in play The ECB’s caution on post Brexit stimulus has seen the Euro pause at chart support. Today’s Flash PMI data might decide whether this turns into a full corrective rally Yesterday, the ECB signalled its perfectly sensible intention to wait until it has a clearer picture of the […]

Top trade idea for July 21st, 2016 – EURUSD

Ahead of the ECB today I would like to show a bearish pattern in the makings on the EURUSD pair and it doesn’t really matter if it is going to be a Euro related move lower or a US dollar move higher, the path of least resistance here is the downside and not the upside. […]

Top trade idea for July 15th, 2016 – GBP/USD

“The trend is your friend.” It’s one of the market’s great old sayings and this is exactly the kind of situation it refers to. After a massive decline, the Pound has begun to rally. At this stage, my presumption is that this is a corrective rally. As such its likely to present an opportunity to […]

Top trade idea for July 14th, 2016 – AUDUSD

Ugly pattern on the AUDUSD pair in the sense that we have a double combination to the downside that retraced between 61.8% and 70% only to be followed by a strong bounce higher. However, a closer look at this bounce is telling us that this is no impulsive wave, even though we kind of need […]

Top trade idea for July 13th, 2016

Stocks recovered very nicely and sharply since mid of February so new bullish reversal is here. Reason for a bullish trend is a five wave rise from 1802 which is an impulsive structure that shows direction of a trend. As such, we will continue to look even higher if we consider that recent retracement down […]

Top trade idea for July 11th, 2016 – NZD/CAD

Trading opportunities for currency pair: the NZD/CAD is at the upper limit of the upward trend channel. It’s worth buying from the trend line with 0.9585-0.9663 targets. Example purchase level – 0.9345 (23.6% from 0.8693 to 0.9548). Growth to cancel with a break of the trend line (daily candle closes below this line. On Thursday […]

Top trade idea for July 8th, 2016

If you are hoping for a pull back to buy into the gold rally, there are signs one might be getting close. As we head into the Non-Farm Payroll release, the gold chart is suggesting a short term bias to the downside. Gold may more likely to sell off on jobs data that’s close to […]