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Top Trade Idea For January 28th, 2015 – USD/JPY


By Matthew Weller of FOREX.com


The sun rises on a new trading day, and traders rolled out of bed particularly eagerly today in anticipation of the Fed’s monetary policy announcement. With a staggering number of central banks across the world turning more dovish over the past two weeks, traders are starting to wonder if the Fed can maintain its moderately hawkish posture. On one hand, economic data (particularly when it comes to the labor market) has been relatively solid of late, but on the other hand, there lack of any inflationary pressures and the economic slowdown overseas could cause the central bank to lean more toward leaving policy unchanged and reevaluating in March.


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Top Trade Idea For January 30th, 2015 – Gold

By Ric Spooner of CMC Markets

Buy gold if it rejects retracement level
Yesterday wasn’t a pretty trading session for gold bugs but the latest pull back may have created an opportunity for potential buyers.
At this stage gold has come to rest at the 38.2% Fibonacci retracement level. Two things add to the potential significance of this level as a support
• It represents the end of a potential ABCD pattern where CD = AB x 127%. Fibonacci followers would be aware that 127% is a commonly used trading ratio, being the square root of 161.8%
• The 200 day moving average is also at this level. This is not shown on the 4 hour chart below but it currently sits at $1252.65.
With all this in mind my trade idea is to buy gold if it rejects this support level by moving past the high of the big 4 hour candle that made the low. This is shown by the dashed line at around $1266.

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Top Trade Idea For February 4th,2015 – EUR/GBP


By Fawad Razaqzada of Forex.com

The EUR/GBP has come under a bit of pressure today amid continued uncertainty surrounding Greece and following the release of some economic data from both the Eurozone and UK. Admittedly, the Eurozone services PMIs were not bad with Spain’s one being the most eye catching, which printed 56.7 for January versus 54.3 in December. Italy’s PMI also expanded as it came in at 51.2 after dipping below the boom/bust threshold of 50 the month prior. What’s more, the overall Eurozone PMI was revised higher to 52.7 from 52.3 while retail sales in the single currency bloc also rose unexpectedly by 0.3% month-over-month in December.




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Top Trade Idea For February 10th, 2015 – USD/CAD

By Gregor Horvat of forecast.com

Last week we said to our members that USDCAD can go back to 1.2400 which has happened but with much more aggressive price action than was expected. Notice that reversal from the high occurred with one leg, so we assume that it belongs to a bigger corrective retracement. We labeled first leg down as wave A so we should see more weakness within wave 4) once current wave B rise is complete.




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Top Trade Idea For February 11th, 2015 – EUR/USD

By Matthew Weller of FOREX.com

The sun rises on a new trading day, and traders rolled out of bed particularly eagerly today in anticipation of the Fed’s monetary policy announcement. With a staggering number of central banks across the world turning more dovish over the past two weeks, traders are starting to wonder if the Fed can maintain its moderately hawkish posture. On one hand, economic data (particularly when it comes to the labor market) has been relatively solid of late, but on the other hand, there lack of any inflationary pressures and the economic slowdown overseas could cause the central bank to lean more toward leaving policy unchanged and reevaluating in March.

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Top Trade Idea For February 13th, 2015 – NZD/USD

By Michael McCarthy Of CMC Markets


In 2014, New Zealand led the world. Record highs for the NZ dollar, one of the best growth rates in the developed world, and the first central bank to lift rates in this cycle. Since July 2014, the Kiwi is down 14 big figures. A recent bounce could offer traders looking to join this down trend an opportunity
New Zealand’s economic strength has two key drivers – top quality food related exports, and the re-building of Christchurch after a devastating earthquake in 2011. However, there are signs of slowing growth and inflation, and the RBNZ shifted from a tightening bias to a neutral stance at its January 29 meeting. There is speculation the Bank may shift to an easing bias at its next meeting on February 28.

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Top Trade Idea For February 18th, 2015 – EUR/GBP

By Fawad Razaqzada of Forex.com

The pound has surged higher following a brief hiccup at the start of the week, supported by some really good jobs market data from the UK. The main highlight was the 2.1% increase in wage growth in the three months to December. The figure, which includes bonuses, was up sharply from 1.7% the month before and easily topped expectations. The rate of unemployment meanwhile fell to 5.7% – the lowest since 2008. Some 73.2% of people aged 16 to 64 are in work now, which is the highest level since 2004. One of the key leading indicators of the jobs market is the change in claimant count and this fell by a surprisingly large 38,600 in January. So, overall it was a good day as far as economic data is concerned and unambiguously sterling has risen against all the majors.

http://www.forexnews.com/wp-content/...ly-587x427.png

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Top Trade Idea For February 20th, 2015 – AUD/NZD



By Michael McCarthy of CMC Markets

Australians and New Zealanders share a special love/hate relationship, and at the moment there’s a lot of trans-Tasman Sea chat about the potential for a parity party. In Auckland and Wellington, they’re chilling the champagne in anticipation of Kiwi strength taking the pair to levels not seen since 1997. NZ’s high quality agricultural exports and superior economic growth are outperforming Australia’s mining related downdraft. An interest rate cut this month from the Reserve Bank of Australia added weight to the established down trend.


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Top Trade Idea For February 24th, 2015 – USD/CAD


By Gregor Horvat of EW-Forecast.com

USDCAD has turned down three weeks back, when pair accomplished a sharp five wave move within an extended red wave 3). If that is the case then traders must be aware of more upside once a corrective wave 4) is complete. Usually wave 4) will retrace for 38.2% compared to wave 3), which in our case comes in near 1.2200, but based on latest structure that looks like a triangle, a fall may not be so deep as firstly thought.



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Top Trade Idea For February 25th, 2015 – AUD/USD

By Matthew Weller of forex.com

In last Friday’s Week Ahead Preview report, we noted that AUDUSD “[had] held up extremely well despite a surprise RBA rate cut and weak jobs report, suggesting that sellers may be growing exhausted around the .7700 handle…” As a general rule, when price action and the fundamental “news” diverge, price is usually proven correct; therefore, the relative resilience of AUDUSD over the last few weeks suggested that an eventual rally was likely (EURUSD’s failure to rally despite progress in the Greek debt talks could provide an opportunity to apply this same idea in reverse in the coming days).

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interesting

Top Trade Idea For February 27th, 2015 – USD/CAD


By Ric Spooner of CMC Markets



Tuesday’s trend peak in Dollar: CAD confirmed the resistance line of a descending triangle formation. This looks to me like a situation that might provide a trade setup in either direction.
The bullish scenario comes out of the Elliot wave playbook. The last major swing higher has the potential to be an impulsive 3rd wave advance as outlined on the chart. If this scenario continues to play out, the 5th swing higher is yet to come.

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Top Trade Idea For March 3rd, 2015 – EUR/NZD

By Fawad Razaqzada of FOREX.com


With the EUR/USD being on the verge of taking another leg lower, the EUR/NZD has already started its move. A day before the European Central Bank meeting, the cross has broken to a fresh record low this morning. Although not much will be expected from this particular meeting, the focus will be on how the ECB will achieve the €60 billion a month of the QE stimulus programme it is planning to launch this month. Mario Draghi could put the final nail in the coffin for the euro if he sounds decidedly dovish at his press conference and does not acknowledge the recent upturn in Eurozone data.

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Top Trade Idea For March 6th, 2015 – EUR/JPY


By Michael McCarthy of CMC Markets


It’s the best of trades, and the worst of trades. The currency wars rage on, as central banks attempt to pillage each other’s domestic demand in an environment of competitive currency devaluation. The fighting is fiercest on the Eastern front, where the united forces of the European Central Bank are smashing into the imperialist resources of the Bank of Japan.



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Top Trade Idea For March 10th, 2015 – AUD/USD

By Gregor Horvat of EW-Forecast.com


Today’s Top Trade Idea AUD/USD
On AUDUSD we see five waves down within an extended wave (3) that found some support at the start of February near 0.7600. Till now the bounce was not that strong so we think that pair made just another corrective move; wave (4) that can be completed around that upper channel resistance line. Aussie is clearly in bearish mode, with downside projections seen around 0.7300-0.7400 that can be reached in a few weeks.

http://www.forexnews.com/wp-content/...DUSD-Daily.png


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Top Trade Idea For March 11th, 2015 – AUD/NZD

By Matthew Weller of forex.com

With no new US economic data of note scheduled for release today, the forex market’s recent trends are extending for another day. Of course, the most powerful and influential trend is the pervasive strength in the US dollar: EURUSD tagged a new nearly-12-year low under the 1.0600 level earlier today on continued weakness in European yields, driving the dollar index to within 0.5% of the psychologically significant 100.00 level. While we remain bullish on the world’s reserve currency, we realize some traders may not share our strong conviction.

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Top trade idea for March 12th, 2015 – GBP/CAD

By Mircea Vasiu of capitalpropertiesfx.com

The chart above is the gbpcad cross and we are talking about a bearish scenario for it. The reason for it is purely technical as market ended a five waves structure at the highs and now we should correct all the way to 1.83 area.
Not only that we have a target in price, but also the time element is helping as 1.8350, our take profit, should come until the vertical line on the right side of the chart, and this means until the 28th of March, so something a little more than two weeks from now.
That is the maximum time this move lower should take but judging on the price structure so far I would say market is forming a double zigzag, with the first zigzag being completed and now the second one started with the x wave, the intervening x wave, being completed yesterday with the move into 1.9140 area.
All in all, we should expect an impulsive move into the lower part of the channel, and that impulsive move to be only wave a of the second zigzag.
It remains to be seen if market will confirm this analysis.


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Top trade idea for March 13th, 2015 – USD/CAD

By ricspooner of cmc markets

My trade idea 2 weeks ago involved buying USDCAD on a 3rd rejection of the base of the triangle shown on the daily chart.This trade was triggered when price bounced off the triangle support at “e”. Price went on to break through the top of the triangle resistance but has so far failed to get clear of the major peak at “3”. USD has started to falter and Wednesday’s high now represents a minor trend peak.

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Top trade idea for March 18th, 2015 – NZD/USD

By Fawad Razaqzada of FOREX.com

Understandably, the focus today is on the FOMC and traders are unnerved about the prospect of an earlier rate hike from the Fed and its impact on the dollar. If the Fed opts to drop the word “patient” from its policy statement then this could give rise to speculation about a June rate hike. This would most likely give the dollar another shot in the arm, which could be bad news for the buck-denominated commodities and, in turn, commodity currencies.

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Top Trade Idea For March 19th, 2015 – AUD/CAD


By Mircea Vasiu


Bullish triangle for the audcad cross as this should be part of a zigzag. In order for a triangle to be part of a zigzag we should look for continuation after it is broken but the break should come under strict conditions.
That being said, market should not dip below the 0.9650 anymore and this should be the stop loss or the invalidation area, while as a target it is mandatory to reach wave a in green, meaning the move higher should stretch all the way to parity.
It follows the FOMC that brough crazy price action all over the dashboard but not for the CAD crosses and it should be a pretty interesting scenario ahead of the Canadian Retail Sales and CPI tomorrow.

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