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Forex News trade of the day

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 […]

Top Trade Idea For November 19th, 2014 – NZD/USD

Yesterday, we outlined a big picture framework for thinking of the broad-based US dollar rally as a rising tide, led by the rotation of individual waves, or currencies (see “Blizzards, Beaches, and the Rising US Dollar Tide” for more). In that article, we highlighted the commodity dollars (CAD, AUD, and NZD) as the strongest candidates […]

Top Trade Idea For November 18th, 2014 – GBP/USD

Today we will take a look at GBPUSD, pair that has been the weakest last week when pair lost nearly 300 pips. On daily chart we see a nice bearish swigs since start of this summer with clear lower lows and lower highs formation so we definitely want to stay in the direction with a […]

Top Trade Idea For November 14th, 2014 – USD/SGD

Trading the “long wave” in markets is not as simple as it may appear. Bond markets are a good recent example. The end of UD Fed stimulus should see higher bond yields. Although there have been two dramatic sell offs in global bond markets, yields have once again fallen significantly, hurting many traders. And the […]

Top Trade Idea For November 13th, 2014 – EURUSD

I’m continuing the eurusd saga today as all our last calls on the pair were right and this analysis only comes to confirm the previous week scenario. If you want, it is an update of the recent moves price made. Starting with the end of the third wave green, price is forming a clear three […]

Top Trade Idea For November 12th, 2014 – AUD/USD

Against the odds, the AUD/USD has somehow managed to climb back above the key 0.8660 support level this week despite breaking and holding below it for a few days of last week.  This is a potential false breakout scenario, which suggests that there was a lack of supply – or willingness from the sellers to […]

Top Trade Idea For November 10th, 2014 – USD/NOK

With crude oil falling to new three year lows, it’s not surprising to see USD/NOK reaching highs not seen since March 2009. The two are often inversely correlated. Since the early May 2014 low near 5.85, USD/NOK has risen sharply higher to 6.93 . This morning, stronger than expected Norwegian core CPI and inflation data […]

Top Trade Idea For November 7th, 2014 – AUD/USD

My trade idea last week looked at selling on a break out of a bearish flag pattern. With this now triggered the next step is to think about exit strategies. A common approach for chart patterns is to build trading strategies around measured moves. With flag patterns, one idea is to project the height of […]

Top Trade Idea For November 6th, 2014 – EURUSD

Into this ECB day I would like to place pending buy limit orders to go long on any move below 1.2440 area, having a stop loss at 1.2300 and a take profit at 1.2880 After last week’s analysis on the eurusd brought us some nice profits as the target of 1.2337 was reached, I would […]

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

The US elections are now behind us, and as widely anticipated, Republicans have solidified their lead in the House of Representatives and seized control of the Senate. For the next two years, the legislative branch of the government will be controlled by the Republican majority, whereas the executive branch (President) is Democratic. While the Republicans’ […]

Top Trade Idea For November 4th, 2014 – USD/JPY

Good day to everyone! In today’s article we will take a look at the most interesting pair of the past few day, which should be USDJPY that broke to new highs of the year, slightly above 114 so far, after the FED ended the QE program last week. At the same time we also see […]

Top Trade Idea For November 3rd, 2014 – EUR/USD

Since the early May 2014 high at 1.3993, the EUR/USD daily chart has been clearly in a downtrend. By early October, it reached 1.25 and arguably, a move lower towards 1.20 may only be months away. For now though, we feel that the move lower over the past few weeks is overdone and that EUR/USD […]

Top Trade Idea For October 31st, 2014 – AUD/USD

The US Dollar continued to rally after Wednesday’s FOMC meeting while gold has dropped quite sharply. For technical traders this poses the question of whether the major $US is about to resume. In most cases, the correction in the $US has been relatively shallow so far. As the chart below shows, the Aussie Dollar, for […]

Top Trade Idea For October 30, 2014 – EURUSD

FOMC statement the other day brought nothing but a new wave of US dollars buyers and the eurusd is the pair that suffered the most given the bullishness of the Fed and the bearishness of the ECB. As a consequence, the eurusd pair broke out of an ugly triangle on the hourly chart, a triangle […]

Top Trade Idea For October 29th, 2014 – AUD/CAD

With the markets fully focused on the outcome of the FOMC tonight, it may be best to avoid looking at assets which will be directly impacted by the Fed’s decision. In this regard, one currency pair that has caught my eye is the AUD/CAD, which could be on the verge of resuming its downward trend. […]

Top Trade Idea For October 27th, 2014 – AUD/JPY

Since mid 2013, AUD/JPY has been moving higher within a controlled (yellow) channel. But in a six week period from early September 2014, we’ve seen a sharp 700 pip fall from the top of the channel towards the bottom. While price is currently moving higher, this time, we feel price will break below the bottom […]

Top Trade Idea For October 24th, 2014 – Sell the Tasman Twins

AUD/NZD has traded in a sideways range for more than 3 months, bounded by 1.0917 and 1.1293. This week, inflation data in NZ came in weaker than expected; leading analysts to suggests that the RBNZ may pause in its current lifting of cash rates.  Under this scenario, Mr Market may expect the Kiwi dollar to […]

Top Trade Idea For October 23rd, 2014 – AUD/USD

It is time to give the old audusd a bit of credentials to the upside as from my point of view market is screaming to break higher out of the contracting triangle that can be seen at the bottom of the chart in the above picture. The whole move seems to be a d wave […]

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