ForexNews.com - Trading Ideas

Top Trade Idea For October 9th, 2013 – EUR/GBP

By Chris Tevere of FOREX.com

EURGBP approaches a key resistance zone between 0.8500/30
EURGBP’s entire decline from August to October can be counted in 5-waves and according to Elliot Wave analysis the ensuing rebound may be viewed as a 3-wave correction – Thus, we are looking for an opportune time to potentially fade remaining EURGBP strength.

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Top Trade Idea For October 16th, 2013 – GBP/JPY

By Eric Viloria of FOREX.com

The Japanese yen is underperforming in the G-10 space today amid reduced demand for safe havens. The Senate has resumed talks and latest reports indicate that Senate negotiators may finish a debt agreement today. Furthermore, low yielding currencies such as the JPY tend to underperform in periods of low volatility which FX markets are currently experiencing.



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Top Trade Idea For October 17th, 2013 – GBP/NZD

By Raghee Horner of IBFX

The daily GBP/NZD has reached the 200DMA but only after breaking the 1.90 handle. The downtrend on the daily is not yet established but there is enough bearish sentiment and momentum to consider a trade on the longer-term 240-minute time frame.


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Top Trade Idea For October 18th, 2013 – USD/SGD

By Michael McCarthy of CMC markets

Regular readers of ForexNews may recall a trade from September 20 in USD/SGD. At the time, I was looking for a reversal of USD weakness, and suggested this pair as a “pure play” on USD. The Monetary Authority of Singapore re-iterated an unchanged stance this week, albeit while maintaining its policy of “modest and gradual appreciation”. In other words, no sign of MAS intervention in the near term.


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Top Trade Idea For October 21st, 2013 – AUD/CAD

By Ed Ponsi

When the dollar falls, oil rises - or so the conventional wisdom goes. However, oil and the dollar are both weak, with West Texas Intermediate crude hitting a three-month low today. Oil itself has formed a bearish head and shoulders pattern.
A falling oil price should impact the Canadian dollar negatively. Meanwhile, the Australian dollar is soaring thanks to an increase in demand for iron ore from China. Fundamentally, a long position in Aussie vs. the Loonie makes sense.


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Top Trade Idea For October 22nd, 2013 – EUR/CAD

By forexnews

Looking at the daily chart and we wave only bullish signals all over the place. The contracting triangle that appears there is a classical continuation pattern and such a triangle appears either as a fourth wave type or a B wave type in terms of Elliott Wave theory. Clearly not a fourth wave type here as the principle of alternation would not be respected (time taken for the triangle to form is too long when compared with the previous correction), so the only option that we have is to look at it as a B wave type.



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Top Trade Idea For October 23rd, 2013 – AUD/JPY


By Kathleen Brooks of FOREX.com


Is the carry trade back? It’s been a rocky road, but the fundamentals are starting to stack up in favour of the carry strategy now that it appears that the Fed’s tapering plans are firmly on hold until well into 2014.With the Fed maintaining its unlimited QE programme the hunt for yield is on, and from a G10 currency perspective that makes the Aussie an attractive proposition.


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Top Trade Idea For October 24th, 2013 – EUR/CAD

By Raghee Horner of IBFX

Despite a slew of PMI misses, the euro is gaining against the loonie as the BOC left rates unchanged yesterday (as expected) but sounded much more dovish (not expected) allowing the EUR/CAD to continue its climb higher.

Attached Image (click to enlarge)

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Top Trade Idea For October 25th – EUR/AUD

By Ric Spooner of CMC Markets

A number of things give me a bearish bias towards this chart.
The double top

The break below the dashed support line. This represents both completion of the double top and (perhaps more importantly) an overlap below the major peak at around 1.4427 which is a sign of weakness.


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Top Trade Idea For October 28th, 2013 – GBP/USD

By Carol Harmen of CharmerCharts.com

We are seeing a Double Top formed on Cable now and this suggests that the next big move is going to be lower…A move back to 1.5940/14 cannot be ruled out…
We also had a reversal day on Friday and this will also keep Cable depressed.


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Top Trade Idea for October 29th, 2013 – GBP/USD

By Brenda Kelly of IG Group London

The resistance at 1.6260 has proven too strong for the GBPUSD pair and we are currently witnessing a drop below the 1.61 metric as a degree of dollar strength creeps back into the market. Yesterday’s US industrial production figures beating expectations trumped the pretty dire pending home sales number and helped the greenback to bounce back against the main 10 currencies. The dollar basket pushed through the 79.40 resistance.


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Top Trade Idea for October 30th, 2013 – NZD/JPY

By Chris Tevere of FOREX.com


NZDJPY has pulled back from nearly 84.00 a little over a week ago to 80.50/60, where it has found staunch support. This area sees the convergence of the 50-day sma & 38.2% retracement of the August-October rally and just above there at 80.75/80 it sees the daily Ichimoku Cloud top.


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Top Trade Idea For October 31st, 2013 – NZD/CAD

By Raghee Horner of IBFX

The NZD/CAD has corrected into the daily swing buy zone after a roller-coaster Wednesday session that saw the kiwi lose ground against the greenback with the FOMC statement only to regain lost ground after the RBNZ (despite a perception that the RBNZ could delay rate hikes). While I don’t like the story that is unfolding at the U.S. dollar, I do like kiwi strength versus the loonie, hence the NZD/CAD buy.



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Top Trade Idea for November 1st,2013 – EUR/AUD

By Michael McCarthy

Trading with momentum is a favoured short term strategy. Over the last 2 days EUR/AUD has turned sharply negative. While there are pros and cons on both sides of EUR/USD, in my opinion, the argument in EUR/AUD is clearer cut. Growth potential, interest rates, commodity upswing – to me these all point to a stronger AUD and weaker EUR.


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Top Trade Idea For November 3rd and 4th, 2013 - USD/JPY

By Kenny Simon

Previously, some technical issues occurred particularly the Nasdaq that has halted its’ options markets (NOM). This might have made us wonder how reliable today’s virtually ‘hi-tech’ driven financial world is, as it happened again just a couple of days ago. So what is really going on that we may not know about?


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Top Trade Idea For November 5th 2013 – AUD/USD

By Gregor Horvat of Elliott Wave Forecast

In today’s article we will look at AUDUSD pair and present you a potential trade set-up based on the Elliott Wave principle. There is a big difference between analysis and trading, but Elliott Wave theory is a method with just few rules and guidelines that can help you to indentify reversal zones and points of ruin. This is very important, because in combination with the wave counts and Fibonacci levels you can define your exact entry, stop loss and target zones.

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Top Trade Idea For November 6th 2013 – EUR/GBP

By Eric Viloria of FOREX.com

EURGBP is stabilizing today after a sharp drop in recent sessions. The pair has declined ahead of tomorrow’s European Central Bank (ECB) meeting as easing expectations build and amid stronger than expected economic data out of the UK. We maintain a bearish bias given the fundamental and technical outlook, as outlined below.


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Top Trade Idea For November 7th, 2013 – GBP/AUD

By Raghee Horner of IBFX

It’s easy to be distracted by the near incessant discussion about Twitter and the post-ECB rate cut environment.
The 25 basis point cut from the ECB did catch most of the market off guard and subsequently has hit the berserk button for the pair; hand’s off until it settles down. The next major impact event is the RBA Monetary Policy Statement and the Chinese Trade Balance release.



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Top Trade Idea For November 8th, 2013 - GBP/AUD

By Ric Spooner,

The recent rally in GBP:AUD is showing all the signs of being a classic “abc” or 3 swing correction of the decline that began on 1st October.

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Top Trade Idea For November 11th, 2013 – GBP/USD

By forexnews

This is a gbpusd analysis and it is no way I should start this analysis without taking a look at the daily chart. This is extremely important as we have a clear impulsive move on the daily chart starting with the lows in the 1.48 area.
The chart below shows you the impulsive move and basically we are looking at an impulsive move with a fifth wave failure for wave five purple there and logic says any five waves structure should be corrected with a three waves move.



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