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Forex News trade of the day

Trade of the Day for April 3rd, 2013 – Short EUR/USD

Trade Idea:  Sell EUR/USD on rallies toward the 200-day moving average at 1.2887. Target 1.2660; stop-loss 1.2950 EUR/USD ran into a thick zone of resistance between the 10-day moving average at 1.2860 and 1.2887 on Tuesday and closed back down at 1.2810. Use any bouts of strength to set fresh shorts with those moving averages […]

Trade of the Day for April 2nd – Buy Gold/Sell Corn

Dennis Gartman who is one of the most respected analysts out there in the commodities markets, was on CNBC’s fast money last night giving his views on a number of commodities.  When asked what his favorite trade of the second quarter is he said that he likes the long gold short corn trade.  The thesis […]

Trade of the Day for April 1st, 2013 – Long USD/JPY

In this morning’s update “Top 3 Opportunities in FX“, BK asset management’s Kathy Lien talks about the BOJ’s meeting this week and her opinion that there is a 60/40 chance that the Bank of Japan (BOJ) will ease this week.  If you have not been following developments in Japan, there is a new head of […]

Trade of the Day for March 28th – Short EUR/USD

There is a nice short setting up here in the EUR/USD as it trades back up against resistance at the 1.2850 level.  Traders looking for a quick win could target the next level of major support which is right around the 1.2700 area.  There is a nice resistance level on the hourly chart right at […]

Trade of the Day for March 27th – Short AUD/USD

For anyone who missed it yesterday AUD/USD hit my entry level of 1.0485 yesterday from my March 18th piece “Watching for a short in the AUD/USD“.  As we have only traded off about 50 pips from that level there is still enough of a risk reward on the trade to enter in my opinion.  Read […]

EUR/USD- Trading the U.S. Consumer Confidence Survey

By David Song What’s Expected: Time of release: 03/26/2012 14:00 GMT, 10:00 EDT Primary Pair Impact: EURUSD Expected: 67.5 Previous: 69.6 DailyFX Forecast: 66.0 to 70.5   Why Is This Event Important: The Conference Board’s Consumer Confidence survey is expected to fall back to 67.5 in March from a three-month high and the drop in household sentiment may drag on […]

Trade of the Day for March 25th – Joe Lewis says Short EUR/USD Long USD/JPY

Good CNBC interview with Paul Richards of UBS who weighs in on legendary currency trader Joe Lewis’s recent comments on his favorite FX trades. While he did not give a time frame Joe mentioned that he feels that the fair value of the EUR/USD is somewhere in the 1.10 to 1.20 range. On the Yen […]

Trade of the Day for March 22nd – Short GBPUSD

This is a followup to the short idea that I put out last week in GBP/USD which you can read here.   Since that time the pound has rallied substantially, however it is still below the 1.5300 suggested stop area on the original trade.  For anyone who missed that trade idea the setup is looking […]

Trade of the Day for March 21st – Long Gold

By Jamie Saettele Commodity Analysis: Gold is nearing its first big test since longs were established in late February. 1620/25 might trigger a reaction (although I’d expect it to be minor). Stronger resistance is probably 1639-1652, which are former pivots that intersect trendlines starting next week. 1585-1600 is support. Commodity Trading Strategy: Move risk up on […]

Trade of the Day for March 20th – Short USD/CAD

Nice short setting up here in the USD/CAD.  This is similar to the thesis I posted earlier in the week on the AUD/USD, the difference is that this trade is ready to go today where the AUD/USD is one to watch.  Triangle on the daily chart, nice area to put a stop just above the […]

Trade of the Day for March 18th – Watching For Short in AUD/USD

There is a nice short setting up in the AUD/USD which I expect to trigger in the next week or two.  Those that are aggressive could put half the trade on on receipt of this commentary and the other half if/when the below scenario plays out. Trade Idea: Short AUD/USD 1.0485, Stop 1.0620, Target .9800 […]

Trade Idea of the Day for March 15th – Long EUR/USD

Today’s trade of the day is from Boris Schlossberg of BK asset management who was on CNBC today talking EUR/USD and USD/JPY. His thesis is that there has been a shift in the Euro zone where politicians are now talking prosperity instead of austerity. There is also a slew of European economic data out next […]

Trade Idea for March 14th – Long USD/JPY as Yen Weakness Should Continue to Perpetuate

The smooth upward trend in the USD/JPY and Thursday’s weak January Japanese industrial production continued to weight on the Yen.  The Industrial Production was revised to 0.3% from 1.0% after a 2.4% increase in December.  Soft Japanese data continues to generate headwinds for the yen as it is seen strengthening the case of BOJ aggressiveness.  […]

Trade Idea of the Day for March 13th – Long GBP/USD

By Jamie Saettele, CMT Long GBP/USD at market (current 1.4915) stop 1.4790 targets 1.5220 and open. The GBPUSD reversed from just below the 61.8% retracement of the 2009 range (1.3500-1.7042) yesterday. Weakness from 1.5221 has taken the form of a wedge (ending diagonal) with a slight throwover (quick drop below the wedge support and reversal). […]

Nice Long Term Short Here in the British Pound (GBP/USD)

A little late to the party here but GBP/USD still looks like an excellent long term short to me.  As you can see on the daily chart below there is not a whole lot of support before the 1.3900 level or more than 1000 pips from our current level.  There is also a nice area […]