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Forex News trade of the day

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 […]

Top Trade Idea For October 22nd, 2014 – EUR/GBP

After bouncing at the start of the month, the euro has sold off across the board this week as traders increase bets that the ECB will have to ease policy further in the coming months. EURUSD, the world’s most widely-traded currency pair, has reversed back lower after managing to retrace just 23.6% of its previous […]

Top Trade Idea For October 21st, 2014 – EUR/USD

Good day to everyone! For today’s strategy we will take a look at the EURUSD pair because of very clear direction and the wave structure. As you know the USD is in updated for the past few months now and we do not see any changes so far, so we believe that the best plan […]

Top Trade Idea For October 20th, 2014 – USD/JPY

During October, USD/JPY has fallen almost 500 pips and to date, has been the strongest of the G10 currencies. Over the past few trading days, we’ve seen a 200 pip move higher which we feel is only a correction within the current downtrend. Therefore, we’re keen to trade USD/JPY to a new October low. The […]