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Top Trade Idea For October 17th, 2014 – EUR/NOK


By Ric Spooner of CMC Markets


Lower oil prices are bad news for Norway but good news for the Eurozone. This makes EURNOK sensitive to oil prices which have every chance of remaining volatile for a while yet.
With that in mind this triangle formation might be useful for traders. A run up to and rejection of the triangle resistance could be a sell set up. This would start to look a bit like a triple top. Traders might position for a return to the pattern support with potential for a break through the bottom.

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


By Todd Gordon of TradingAnalysis.com



During October, USD/JPY has fallen almost 500 pips and to date, has been the strongest of the G10 currencies. Over the past few trading days, we’ve seen a 200 pip move higher which we feel is only a correction within the current downtrend. Therefore, we’re keen to trade USD/JPY to a new October low.




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Top Trade Idea For October 21st, 2014 – EUR/USD

By Gregor Horvat of EW-Forecast.com

For today’s strategy we will take a look at the EURUSD pair because of very clear direction and the wave structure. As you know the USD is in updated for the past few months now and we do not see any changes so far, so we believe that the best plan is to stick with the direction of a stronger USD. With that said, we assume that EURUSD will fall even lower in this year, and that any rallies are most likely just corrections, or pauses within larger on going downtrend.

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Top Trade Idea For October 22nd, 2014 – EUR/GBP

By Matthew Weller of FOREX.com

After bouncing at the start of the month, the euro has sold off across the board this week as traders increase bets that the ECB will have to ease policy further in the coming months. EURUSD, the world’s most widely-traded currency pair, has reversed back lower after managing to retrace just 23.6% of its previous drop (1.2850), but today’s report focuses on EURGBP.

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Top Trade Idea For October 24th, 2014 – AUD/NZD

By Michael McCarthy of CMC Markets


AUD/NZD has traded in a sideways range for more than 3 months, bounded by 1.0917 and 1.1293. This week, inflation data in NZ came in weaker than expected; leading analysts to suggests that the RBNZ may pause in its current lifting of cash rates. Under this scenario, Mr Market may expect the Kiwi dollar to fall.


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Top Trade Idea For October 27th, 2014 – AUD/JPY

By Todd Gordon of TradingAnalysis.com




Since mid 2013, AUD/JPY has been moving higher within a controlled (yellow) channel. But in a six week period from early September 2014, we’ve seen a sharp 700 pip fall from the top of the channel towards the bottom. While price is currently moving higher, this time, we feel price will break below the bottom of the channel and retest last year’s low of 86.40. This article discusses a longer term trade with that in mind.
Typically, one would wait for price to break below the channel bottom before trading it short. In that respect, this is a much more aggressive approach but aided by our analysis of the three-hour chart below.

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Top Trade Idea For October 29th, 2014 – AUD/CAD


By Fawad Razaqzada of Forex.com

With the markets fully focused on the outcome of the FOMC tonight, it may be best to avoid looking at assets which will be directly impacted by the Fed’s decision. In this regard, one currency pair that has caught my eye is the AUD/CAD, which could be on the verge of resuming its downward trend. Although the AUD has strengthened recently, so has the CAD after the Bank of Canada dropped the “neutral” policy wording from its latest rate statement, which the market has interpreted as a slightly hawkish move.


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Top Trade Idea For October 31st, 2014 – AUD/USD



By Ric Spooner of CMC Markets


The US Dollar continued to rally after Wednesday’s FOMC meeting while gold has dropped quite sharply. For technical traders this poses the question of whether the major $US is about to resume.



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Top Trade Idea For November 3rd, 2014 – EUR/USD

By Todd Gordon of TradingAnalysis.com

Since the early May 2014 high at 1.3993, the EUR/USD daily chart has been clearly in a downtrend. By early October, it reached 1.25 and arguably, a move lower towards 1.20 may only be months away. For now though, we feel that the move lower over the past few weeks is overdone and that EUR/USD is due for a correction. For those who can stomach the idea of buying euro, continue reading.

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Top Trade Idea For November 4th, 2014 – USD/JPY


By Gregor Horvat of EW-Forecast.com


In today’s article we will take a look at the most interesting pair of the past few day, which should be USDJPY that broke to new highs of the year, slightly above 114 so far, after the FED ended the QE program last week. At the same time we also see stocks at the highs with room for 2030/2040 on S&P500 which could help to support USDJPY even more as markets are in positive correlation.


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Top Trade Idea For November 5th, 2014 – GBP/USD

By Matthew Weller of FOREX.com

The US elections are now behind us, and as widely anticipated, Republicans have solidified their lead in the House of Representatives and seized control of the Senate. For the next two years, the legislative branch of the government will be controlled by the Republican majority, whereas the executive branch (President) is Democratic. While the Republicans’ strong performance may lead to some progress on trade and energy policies among others, the gridlock that has ensnared Washington over the last few years appears likely to extend for the final two years of Obama’s lame duck presidency. For more on the longer-term implications of the election for the US Dollar and stocks, including an analysis of what it may mean for the debt ceiling, see our special report “What Do the US Midterm Elections Mean for the Dollar and Stocks?”


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Top Trade Idea For November 7th, 2014 – AUD/USD

By Ric Spooner of CMC Markets


My trade idea last week looked at selling on a break out of a bearish flag pattern. With this now triggered the next step is to think about exit strategies.



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Top Trade Idea For November 10th, 2014 – USD/NOK

By Todd Gordon TradingAnalysis.com

With crude oil falling to new three year lows, it’s not surprising to see USD/NOK reaching highs not seen since March 2009. The two are often inversely correlated. Since the early May 2014 low near 5.85, USD/NOK has risen sharply higher to 6.93 . This morning, stronger than expected Norwegian core CPI and inflation data has pushed USD/NOK to 6.73. We feel this represents a buying opportunity

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Top Trade Idea For November 12th, 2014 – AUD/USD


By Fawad Razaqzada of FOREX.com


Against the odds, the AUD/USD has somehow managed to climb back above the key 0.8660 support level this week despite breaking and holding below it for a few days of last week. This is a potential false breakout scenario, which suggests that there was a lack of supply – or willingness from the sellers to enter short – below this multi-year low. Thus from a purely technical point of view, the behaviour of price action here suggests that rates may have bottomed out for now and that some gains could be on the way in the near term. That said, the Aussie is yet to break above some important resistance levels that are now approaching fast. At this stage, therefore, this potentially bullish scenario should be taken with a pinch of salt. Indeed, given the underlying bearish trend, I wouldn’t be surprised to see another leg lower in spite of the bullish-looking price action of late.



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Top Trade Idea For November 18th, 2014 – GBP/USD


By Gregor Horvat of Forex Markets




Today we will take a look at GBPUSD, pair that has been the weakest last week when pair lost nearly 300 pips. On daily chart we see a nice bearish swigs since start of this summer with clear lower lows and lower highs formation so we definitely want to stay in the direction with a trend, especially when it comes to trading.



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Top Trade Idea For November 19th, 2014 – NZD/USD

By Matthew Weller of FOREX.com

Yesterday, we outlined a big picture framework for thinking of the broad-based US dollar rally as a rising tide, led by the rotation of individual waves, or currencies (see “Blizzards, Beaches, and the Rising US Dollar Tide” for more). In that article, we highlighted the commodity dollars (CAD, AUD, and NZD) as the strongest candidates to lead the next wave of dollar strength; each of them are losing ground against the greenback today, but the NZDUSD may be offering the most actionable technical setup of the bunch.

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Top Trade Idea For November 21st, 2014 – EUR/AUD

By Ric Spooner of CMC Markets




The Euro is forming a Gartley 222 pattern against the Aussie Dollar. The Gartley is a 3 part correction “A” to “B”; “B” to “C” and finally “C” up to “D”. The move being corrected is usually labelled XA.


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Top Trade Idea For November 24st, 2014 – GBP/NZD

By Todd Gordon of Trading Analysis


Since late September, GBP/NZD (‘the pound’ against the New Zealand dollar) has fallen 1400 pips. We feel that this trend will continue and will discuss a trade for expected move lower. The recent move higher provides an opportunity to trade it short.







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Top Trade Idea For November 26th, 2014 – EUR/JPY


By Fawad Razaqzada of Forex.com

Today it is all about the dollar as three days’ worth of US macroeconomic pointers will be published in the space of just a few hours to avoid conflicts with Thursday’s Thanksgiving holiday. The US data dump could lead to a volatile afternoon session for the major currency pairs denominated in the buck. Speculators who would like to avoid the USD altogether this week should therefore look at a currency cross instead, for example the EUR/JPY.



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Top Trade Idea For November 28th, 2014 – AUD/USD


By Michael McCarthy of CMC Markets


Falling commodity prices – noticeably iron ore and oil – are putting further downward pressure on AUD/USD. Stakeholder interests are largely aligned here. The RBA, the government and business all have a lower exchange rate on their Christmas wish list. The current drop has pushed the pair below the four year lows, and a big picture view suggests there is plenty of potential for further falls.



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