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Forex News trade of the day

Top Trade Idea For June 13th, 2014 – EUR/GBP

From a risk: reward perspective, I favour trading strategies that involve entry close to a potential turning point. This allows a relatively close stop loss and (when the trade works) a good reward to risk or pay off ratio. That said, I’m not an advocate of trying to catch falling knives. There needs to be […]

Top Trade Idea For June 12th, 2014 – EUR/CAD

The spike in the euro versus the Canadian dollar came to an abrupt end last week following the ECB meeting. As this week has gone on the losses have intensified and now the pair is at its lowest level since early January. The ECB’s decision to cut rates and embark on fresh monetary easing, with […]

Top Trade Idea For June 12th, 2014 – NZDUSD

In light of the recent RBNZ interest rate decision and looking at how the kiwi pairs reacted to the rate hike down under, I would like to focus on the nzdusd today and to made a case about why the pair is not going to stop anywhere around these levels and why it should attack […]

Top Trade Idea For June 11th, 2014 – AUD/USD

Heading into tomorrow’s Asian session, most traders will be focused on the RBNZ’s interest rate decision and its impact on the New Zealand dollar. However, the AUD/USD has been quietly rallying for the past seven days and a developing technical pattern suggests that the Aussie may steal the Kiwi’s spotlight in the latter half of […]

Top Trade Idea For June 9th, 2014 – EUR/SGD

When was the last time you traded the Euro against the Singapore dollar? We’re guessing it’s rare if ever most traders have even looked at this chart. We hope that by the end of this article, the technical case presented makes you confident and comfortable to consider placing a EUR/SGD trade. EUR/SGD has been in […]

Top Trade Idea For June 6th, 2014 – AUD/USD

NFP Triangle Alert – AUD/USD Some of the best results in technical trading   come when the chart signal goes against the consensus fundamental view. Such surprises can produce a scramble – and excess profits for traders. Widely held expectations that stimulus withdrawal and declining commodity prices will see AUD fall significantly against the USD over […]

Top Trade Idea For June 5th, 2014 – USDJPY

The chart above is the daily time frame on the usdjpy pair and this time I want to show you what it may be the end of an extremely bullish setup for the pair. The rectangular below the chart shows the pattern I am hunting here and this is one of the most bullish patterns […]

Top Trade Idea For June 4th, 2014 – EUR/JPY

After rallying for 4 consecutive days, the EUR/JPY has come under a bit of selling pressure at the start of today’s session. From a fundamental point of view this makes perfect sense as the longs lighten up their positions ahead of the all-important European Central Bank policy decision tomorrow and following the release of some […]

Top Trade Idea For June 3rd, 2014 – GBP/AUD

GBPUSD has been in downtrend for the last part of May, while AUDUSD has been mostly moving sideways. As such, we see GBP in negative position against the AUD. So today we will focus on cross pair GBPAUD which from the Elliott Wave perspective shows room for much lower level in days ahead. On the […]

Top Trade Idea For June 2nd, 2014 – USD/JPY

Traders, while USD/JPY can be a real pain to trade, it is worth noting the current technical position – a break higher could be upon us. I would use 100.80 as a stop-loss and look for a move above 102.15-35 for confirmation that prices are moving higher. Potentially some big upside targets starting from 103.50+ […]

Trade of The Day For May 30th, 2014 – EUR/JPY

EURJPY has returned to its 200 day moving average for the second time in recent days. It’s also starting to get the look of a developing triangle although a deeper correction is a distinct possibility My trade idea is: Sell EURJPY on a clear break below the 200 day moving average Tighten stops if price […]

Top Trade Idea For May 29th, 2014 – AUD/GBP

Having regained the £0.5484 level, AUDGBP has been powered higher by a set of economic figures that have been positively received by the FX market. The headline number was remarkably negative, as business investment dropped for a second successive quarter. However, the manufacturing sector boosted its spending, providing markets with the good news that Australia’s […]

Top Trade Idea For May 29th, 2014 – GBPUSD

Still on the gbpusd this week but while the previous week we looked at the bigger time frames and expected a running variation of a contracting triangle to form on the pair, now I want to focus on short/medium term trading and this is the hourly chart. From the highs and to the recent lows […]

Top Trade Idea For May 28th, 2014 – USD/JPY

USDJPY: US 10-year yield & negative reversal warn of possible sell-off Whether you’re an experienced trader or brand new to Forex, you should be aware of the strong positive correlation between the US 10-year yield & USD/JPY. This historical intermarket relationship is predominantly due to the fact that Japanese interest rates have been incredibly low […]

Top Trade Idea For May 23rd, 2014 – AUD/USD

Australian currency traders sometimes refer to the local currency as “the little Aussie battler”. This is a compliment. A “battler” is an average person who works hard to improve their lot despite outrageous fortune, while maintaining a cheerful and optimistic outlook. However, times are looking tough for the AUD. The Federal government has just issued […]

Top Trade Idea For May 22nd, 2014 – GBPUSD

I know people are bullish on the US dollar and they should have all the fundamental reasons in the world to be so: Fed is tapering (which is still tightening make no mistake), there are increasing talks about a rate hike in the United States to come sooner rather than later, etc. However, looking at […]

Top Trade Idea For May 21st, 2014 – EUR/CHF

While most trade ideas tend to be technical in nature on this site, I thought it was about time to have one that is unashamedly fundamental.  EURCHF is one of the least volatile crosses in the G10 FX world because of the SNB’s 1.20 peg that has been in place since August 2011. Basically, this […]

Top Trade Idea For May 20th, 2014 – EUR/USD

EURUSD reversed strongly to the downside two week back after the ECB press conference when Draghi made a hint in his speech that they may take appropriate actions if EUR will continue to the upside. Pair fell sharply since then, more than 300 pips away from 1.4000 psychological number. On weekly candlesticks chart we can […]

Monday Trade Idea

Good morning traders.  The ECB announcement two weeks ago makes it pretty clear that rates and/or policy will likely be a bit looser going forward.  That should keep EUR under pressure. From a technical view as well as positive interest rate differential, shorts in EUR/AUD makse sense. Short into the 1.4730/35 resistance level Stops at […]

Top Trade Idea For May 19th, 2014 – EUR/AUD

Time to get a little exotic! While the major forex pairs saw some more moves last week, one particular cross is looking like a ripe fruit for the picking. Let’s get to know our new friend, EURAUD. What makes this so attractive? We have sentiment moving opposite ways on both sides. In the Eurozone, economic […]