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Forex News trade of the day

Top Trade Idea for July 11th, 2014 – AUD/USD

The AUD/USD pair is tiring. USD weakness and good trade data from China saw AUD attempt higher levels, only to fade each time. Traders have heard it all before – but Aussie weakness may arrive once most traders have given up their shorts. The chart below shows the last 3 peaks. The previous 2014 high […]

Top Trade Idea For July 10th, 2014 – GBPUSD

Bank of England today and what a perfect occasion to take a look at the gbpusd pair and due to the fact that price is refusing to break the 1.72 area opens the case for a rising wedge. This rising wedge comes in the form of a terminal impulsive move that act as a bearish […]

Top Trade Idea for July 9th, 2014 – USD/JPY

The markets are mostly comatose today as we wait for the FOMC minutes this afternoon. Until then we think that tight ranges will prevail. While it is always a tough call to predict anything that comes out of the Fed, we think that, on balance, the message could be less dovish than recent statements. We […]

Top Trade Idea For July 8th, 2014 – GBP/USD

Having established a 6 year high against the dollar, the pound has given back some of its recent gains with British factory output suffering an unexpected slump in May. What is interesting is that this is a sector that recorded its strongest growth in the three months to April and despite some positive private sector […]

Top Trade Idea For July 7th, 2014 – AUD/NZD

Since early June, the New Zealand dollar has been the antipodean dollar of choice. The cross rate has moved 3.5% from 1.1035 to 1.0666 during those few weeks. While medium term analysis suggests that the trend lower may continue, in the nearer term, we may be due for a pullback. Today’s countertrend trade will look […]

Top Trade Idea For July 4th, 2013 – USD/JPY

Last night’s strong US jobs numbers should lead to USD strength as traders factor the potential for higher interest rates sooner. With many US traders distracted by the Independence Day celebrations, it’s possible further USD buying will emerge on Monday – giving the rest of the world a head start. The JPY offers itself as […]

Top Trade Idea For July 3rd, 2014 – EURUSD

Being an ECB day I decided to take a look at the eurusd pair and actually my strategy here will be to buy the dip into this NFP and Draghi day. From a fundamental point of view there is nothing what the ECB could do on the rate announcement, but the press conference should be […]

Top Trade Idea For July 2nd, 2014 – USD/NOK

The USDNOK has been in rally mode for the last two weeks, when the Norges Bank explicitly pushed back its timeline for hiking interest rates to the end of next year (vs. the middle of 2015 previously). In fact, the central bank even hinted that it may have to cut interest rates in the interim […]

Top Trade Idea For July 1st, 2014 –Crude OIL

Price on crude oil has turned bullish in May and based on some strong reactions in the last two months with a clear direction we suspect that market is forming an impulsive recovery. Impulses are five wave patterns, so until we get five waves we will look for higher levels. Well, on the 4h chart […]

Top Trade Idea For June 30th, 2014 – AUD/USD

During the month of June, AUD/USD tried on four separate occasions to break above 0.9450/60 but was thwarted each time. Perhaps Professor Randy Pausch** said it best “… brick walls are there for a reason ….  (they) give us a chance to show how badly we want something. Because the brick walls are there to […]

Top Trade Idea For June 26th, 2014 – EURJPY

Price and time, the holly grail in trading makes this analysis on the eurjpy pair extremely interesting. While this is still a daily chart, please note that we have some time constraints: the move to the upside should reach the three targets in the picture above: 141.10, 142.08 and 145.68 in less than the time […]

Top Trade Idea For June 25th, 2014 – GBP/NZD

The daily chart of the GBP/NZD currency pair is looking very interesting as it points to a potential breakout soon. The cross has been stuck in a narrowing range between major resistance at 1.9600/20 and a long-term bullish trend line, currently around 1.9450. A potential break outside of this range could lead to a sharp […]

Top Trade Idea For June 23rd, 2014 – CAD/JPY

Canadian dollar pairs exploded on Friday on the release of better than expected retail sales and CPI numbers. Just before markets closed for the week, we noticed a pullback underway. We wish to take advantage of that correction to make a trade. Our vehicle will be CAD/JPY. Friday was unusually quiet regarding medium and major […]

Trade Idea for the June 22nd, 2014– USD/JPY

The month of June has witnessed to as much noise in the markets as the cheers and sighs by spectators for this year’s world cup. Economic events with the conundrums caused by recent geopolitical events as well as rumors on how the world cup could bring some opportunities for FX traders, may just make some […]

Top Trade Idea For June 20th, 2014 – AUD/JPY

AUD/JPY MACD Alert The AUD has been remarkably resilient in the face of declining terms of trade, most notably the fall in iron ore prices from US $140 to around $90 per tonne. This is Australia’s most valuable export at the moment, and while the decline in prices and terms is widely expected, recent events […]

Top Trade Idea For June 19th, 2014 – EURUSD

Time to take a look at the bigger picture on the eurusd pair and what better moment to do that than right after FOMC statement and press conference. Well, a lot of US dollar sellers right now all over the board but I would say not so fast boys, not so fast. The whole move […]

Top Trade Idea For June 18th, 2014 – USD/CHF

There is some key event risk for this pair over the next 24 hours. First up you have the FOMC meeting later on Wednesday.There is some speculation that the Fed Governor could follow the path of the Bank of England and suggest that rate increases could happen sooner than the market currently expects for the […]

Top Trade Idea For June 17th, 2014 – GBP/USD

Cable is in bullish mode, now again trading close ti 1.7000 psychological level which we think it will be taken out in June. After all market is in uptrend with higher highs and higher lows as clearly shown on the weekly chart below, so we expect more upside as we do not see any signs […]

Top Trade Idea For June 16th, 2014 – EUR/USD

Many people ignorantly mock Elliott wave analysis as too subjective to be useful. This article will show how two EUR/USD Elliott Wave counts, one which is currently very bullish towards 1.40 and the other which is very bearish towards 1.2950 can conspire to create a EUR/USD trade to execute right now. Sentiment regarding EUR/USD is […]

Top Trade Idea For June 16th, 2014– GBP/CHF

The week right after June’s NFP was rather quiet but volatility may have begun to brew as of market’s close last week since traders could be expecting market sentiments to impact the before-and-after of this week’s economic events.  What should we as traders be aware of in the upcoming days and weeks in order to […]