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Forex News trade of the day

Top Trade Idea For September 11th, 2014 – EURUSD

After last week’s scenario being invalidated by an extremely bearish market, we’re coming back with an updated eurusd calling for lower values still to come most likely until the all important Fed meeting next week. The thing is that the whole move to the downside comes with a bottoming formation, and that is the running […]

Top Trade Idea For September 8th, 2014 – USD/CHF

Four weeks ago, we recommended a USD/CHF long trade (entry 0.9030) which worked as planned In lieu of the ongoing US dollar rally and last week’s ECB rate cut, we’re going back to the well for another USD/CHF long. This three-hour chart includes a simple Elliott Wave count from the late August low of […]

Top Trade Idea For September 5th, 2014 – AUD/CAD

Aussie CAD has formed into a neat rectangle formation having now completed 2 rejections of both the support and resistance. I’ve shown the daily chart here to highlight the rectangle formation. But if you look at the longer term weekly, you’ll see that momentum oscillators like the slow stochastic are still trending up. This leads […]

Top Trade Idea For September 4th, 2014 – EURUSD

Being an ECB day today, it is only normal to look at the eurusd and to try to identify the path of least resistance for the pair as volatility will be the name of the game in the period to come. And it is not only about what the ECB will do or not, as […]

Top Trade Idea for September 3rd 2014 – USD/CNH

After an unexpectedly weak first half of the year, the offshore Chinese yuan (CNH) has been gradually strengthening over the last few weeks. From an economic perspective, this shift coincided with rapid improvements in both the official and HSBC measures of Manufacturing PMI, which simultaneously peaked at 51.7 last month. Unfortunately, this week’s data was […]

Trade Idea For September 2nd,2014 – AUD/USD

For five months, the Australian dollar has been consolidating within a tight range from 0.92 to 0.95. Despite periods of significant US dollar strength, the Aussie held up better than most other G10 currencies. With signs of the end of US dollar strength, the Australian dollar finally has a chance of moving above 0.95. Right […]

Trade Of The Day For August 29th,2014 – AUD/JPY

Despite the wishes of RBA Governor Glenn Stevens, the AUD continues to defy gravity. Lower commodity prices should see lower terms of trade, and a lower Aussie, yet the currency continues to frustrate short sellers. Eventually, USD strength as stimulus is withdrawn should see a lower AUD/USD. But the AUD/JPY chart is telling a different […]

Top Trade Idea For August 28th, 2014 – AUDUSD

For the audusd pair there is still trouble ahead as the path of least resistance seems to be still to the downside and not the upside like recent price action might indicate. The thing is that the pair is consolidating for the last 5 months around 0.95 and 0.9300 levels, so 200 pips range that […]

Top Trade Idea For August 27th,2014 – EUR/CHF

Since the Swiss National Bank (SNB) imposed its peg in EUR/CHF, this cross has only traded below 1.20 a handful of times, and each time it has bounced off this important level of support. In the three years that the peg has been in place, the market hasn’t tested the SNB’s resolve with any gusto. […]

Trade Idea For August 25th,2014 – USD/NOK

Over the past few weeks, USD/NOK (Norwegian Krone) has fallen almost 3% from almost 6.31 to 6.13. The subsequent pullback from 6.13 has also been weak only reaching 6.20. As we feel it should reach 6.22-6.24, we’ll discuss a way to place a trade allowing for the fact that we’re unsure which form the correction […]

Top Trade Idea For August 24th, 2014 – EUR/JPY

The August holidays seemed to have just gone by while the end of the month is fast approaching but most anticipation through market sentiments are focused on both the Euro zone’s deteriorating economic situation versus a more positive outlook for the US right after Yellen’s and Draghi’s speech at Jackson Hole last week. What would […]

Trade Idea For August 22nd ,2014 -GBP/CAD

After several months of sideways drift, the pound now has the potential to break down against the Canadian Dollar. Comments by Mr. Carney and well behaved UK inflation have recently exerted downward pressure. My trade idea is to sell on a clear break below the 200 day moving average looking for a deeper correction of […]

Top Trade Idea For August 21st, 2014 – EURUSD

It is a while now since we looked at the eurusd pair and it is time to see what recent moves indicate for the short/medium term. From the moment the pair almost touched the 1.40 level price new nothing but the downside with some vicious moves, leaving bulls not the slightest chance to exit a […]

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

USDJPY: navigating central bank risk The Jackson Hole conference of central bankers may not be everyone’s idea of a barrel of laughs, but it can be big news for your portfolio. In the past, central bankers have used these speeches to announce changes in monetary policy; this is where Ben Bernanke first announced the prospect […]

Trade Idea For August 18th,2014 – EUR/CAD

Predicting reversals can be risky. Last week, we expected a EUR/CAD reversal near 1.4550. On Friday, EUR/CAD reversed at 1.4546 and is currently heading higher. We expect that move higher to end soon and will discuss a EUR/CAD short trade based on the same approach for predicting the reversal at 1.4546. This half-hourly chart shows […]

Top Trade Idea for August 17th, 2014 – AUD/USD

Last week’s projection for the EUR/USD did materialize nicely since previous hints by experts were backed up by various sources about how situation in the euro zone especially its’ overall economic outlook wasn’t too rosy but rather murky instead. In saying that, the harmonic ‘M’ pattern that was formed at the time, confirmed the downwards […]

Top Trade Idea For August 15th, 2014 – RUB

Ruble to Rise from the Rubble “The country has plunged into a bloody chaos, a fratricidal conflict, a humanitarian catastrophe has hit south eastern Ukraine. We will do all we can to stop this conflict as soon as possible and end bloodshed in Ukraine.” This statement was made by: a)    German Chancellor Merkel b)    US […]

Top Trade Idea For August 14th, 2014 – EURJPY

The above chart is the daily char on the eurjpy pair and the whole pattern from the lows until the triangle on the top of the chart is nothing but a so called double combination. This means that the move to the upside is actually corrective, not impulsive, formed out of two different corrective waves […]

Top Trade Idea for August 13th 2014 – USD/JPY

A few weeks ago, we raised the possibility that USDJPY could see a breakout from its 7-month descending triangle pattern (see “Time for USDJPY Traders to Wake Up?” for more). A few days later, the pair broke out of the pattern, eventually running up to 103.00 before losing steam and pulling back to 101.50 last […]

Top Trade Idea For August 12th, 2014 –USD/CAD

Hello everyone! In today’s article we will take a look at USDCAD which has been in a significant recovery for the past five weeks away from 1.0600 area. Market recovered in very sharp manner, referred as an impulse in Elliott Wave terminology.  You will notice that pair also took out an important downward channel a […]