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Forex News trade of the day

Trade Idea for August 11th, 2014 – USD/CHF

For most of July, USD/CHF (Swiss Franc) steadily rose about 250 pips or 3% from 0.8855 to 0.9106. Since then, the price action has been range-bound in an 85 pip channel between around 0.9030 and 0.9115. We feel the rise should reach 0.9150 and will suggest a way to trade that.   This four-hour chart […]

Top Trade Idea For August 10th, 2014 – EUR/USD

As most Christian dominated countries especially in Europe are in a vacations mood for the August holidays and following the ‘Assumption of Mary’ school break next week, the debt crisis in the euro zone may not be as carefree as to enjoy the holidays so will the effect of the crisis re-emerge? Talking about the […]

Top Trade Idea For August 8th, 2014 – EUR/GBP

After a major decline, the net effect of price movement in the Euro against the Pound since early July has been a broad drift sideways. This loss of momentum often comes before a change in trend.  It’s early days yet, but EURGBP is starting to get a head and shoulder look about it.My trade idea […]

Top Trade Idea For August 7th, 2014 – GBPAUD

After the terrible employment data in Australia I am saying that the market has just ended a contracting triangle on the gbpaud pair that is about to break higher. Like any contracting triangle, this one travels between the a-c and b-d trend lines and by the time the b-d trend line is broken we should […]

Top Trade Idea For August 6th, 2014 – NZD/USD

It seems like a long time ago when the NZD/USD was pressing against the 2011 peak of around 0.8800/40. A verbal intervention from the RBNZ was enough to shoot it down by a few hundred pips from there, and the Kiwi was pressured further by continued falls in New Zealand’s dairy prices.  But with interest […]

Top Trade Idea For August 5th, 2014 – AUD/USD

The RBA, as expected left rates unchanged at 2.5% today. This is the 12th consecutive month that rates have been kept on hold – the longest single period since 2006. The general expectation is that the RBA will stand pat until the first half of 2015 at the earliest. The RBA did however state that […]

Top Trade Idea For August 4th, 2014 – NZD/USD

Since early July, the New Zealand dollar has been weak against the US dollar. In one month, the Kiwi lost 4% of its value and it seems that will continue. Over the last week, the Kiwi has staged a corrective fight back that we feel offers an opportunity to trade. This two hour chart shows […]

Top Trade Idea For August 1st, 2014 – AUD/NZD

Trans Tasman Trade – Sell AUD/NZD Australia and New Zealand are separated by a lot more than just the Tasman Sea – and are not so friendly rivals in many sports dear to both countries’ hearts. They share a heavy dependence on primary industries. However, NZ’s food producers are currently outperforming Australia’s miners, and it’s […]

Top Trade Idea For July 31st, 2014 – USDJPY

Bullish break for the usdjpy pair as it is benefiting from better than expected US data (from a fundamental point of view) and a contracting triangle that broke higher (from a technical point of view). The fact that this contracting triangle is on the daily chart should be taken seriously as the b-d trend line […]

Top Trade Idea For July 29th, 2014 –USD/JPY

Good day traders! In today’s update we will take a look at USDJPY as this pair can be very interesting for trading in the next couple of days, maybe even weeks. We can see that market is moving sideways for the last six months. A sideways price action is referred as a correction, in our […]

Top Trade Idea For July 28th, 2014 – AUD/CHF

As a keen skier, it’s no surprise that Switzerland is one of my preferred European destinations given its slopes, scenery, crisp air and hiking. But during the past year or so, something has been missing. Where are all the Australians? That very distinctive accent has been heard less and less during the past year and […]

Top Trade Idea For July 25th, 2014 – AUD/CAD

Aussie/CAD is testing trend line resistance with momentumoscillators like the slow stochastic in the overbought zone. The high of today’s candle is so far well below yesterday’s high. If we also move below yesterday’s low the chances are we will finish the day with both a lower high and a lower low. Assuming this is […]

Top Trade Idea For July 24th, 2014 – EURGBP

I would like to take a look at the eurgbp cross this week as it is forming/ending one of the most complex forms of correction on this four hours chart you can see above and from my point of view that is a nice risk reward ratio to get out of this setup. I am […]

Top Trade Idea For July 23rd, 2014 – USD/JPY

Out of all the major currency pairs, the USDJPY has undoubtedly been one of the dullest thus far this year. The pair has been trapped within a tight range from roughly 101.00 to 104.00 since mid-January, driving the average weekly range (ATR) to levels not seen since before the introduction of Abenomics in Q3 2012. […]

Top Trade Idea For July 21st, 2014 – EUR/CAD

Since mid-March, the euro has lost about 7% of its value against the Canadian dollar. This trend seems likely to continue but has paused around the 1.4441 level. While it seems poised to move higher in a countertrend move possibly towards the 1.50 level, we recognize the price action of the countertrend and see a […]

Top Trade Idea For July 18th, 2014 – AUD/USD

Aussie Dollar has developed quite pronounced support just below .9330. This area coincides with the 30 May peak and the market has since failed to move below this area on 3 occasions. This time around, price has found this level having made both a lower low and a lower high. In these circumstances a break […]

Top Trade Idea For July 17th, 2014 – EURAUD

Interesting place for the euraud pair as the cross is sitting on a pivotal area both in terms of conflicting fundamentals between the two currencies and technicals. For the Euro part of the equation, the heavy tone we saw lately started with the ECB and the easing measures the central bank took lately but we […]

Top Trade Idea For July 16th, 2014 –GBP/USD

The pound lost some ground this morning in reaction to the UK labour market data. As expected, the unemployment rate fell to 6.5% in May from 6.6% in April, while jobless claims dropped by 36,300 applications last month which was better than expected. However, earnings growth was again weaker, which remains one of the main […]

Top Trade Idea For July 15th, 2014 –AUD/USD

Today we will take a look at AUDUSD pair and discover a potential trading opportunity.  If you are following AUDUSD regularly then you will know that pair has been in uptrend since start of the year. Pair rallied almost 800 pips in seven months, but this trend can be changing now. Let’s take a look […]

Top Trade Idea for July 14th, 2014 – USD/NOK

In the past few months, the Norwegian krone has performed poorest amongst the G10 currencies. With no evidence that the weakness has ended, we’ve been waiting for another opportunity to enter a trade. Asa pullback began in USD/NOK overa week ago, this article will discuss a way to trade that weakness.   This percentage change […]