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Top Trade Idea for August 11th, 2015 XAU/USD

By Gregor Horvat of ew-forecast.com

Gold is trading at new lows, currently around the trendline connected from the start of 2014 where support can be found, especially if we consider the shape of an ending diagonal placed in fifth wave. Thats a very important reversal pattern that suggests a bounce in the second part of 2015 and maybe very strong recovery in 2016. Well, if we are correct then lows could be near as we have all needed substructure for a valid formation.



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Top Trade Idea for August 12th, 2015 NZDUSD

By Matthew Weller of Forex.com

Its been another whirlwind Asian session in the forex market, with the volatility once again kicked off by a big devaluation of Chinas currency. Despite claims that Tuesdays 1.9% devaluation was a one-off adjustment, Chinese authorities opted to decrease the value of the yuan another 1.6% in todays Asian session (see my colleague Chris Tedders report, China Enters Global Currency Wars, Eyes SDR Status for more).

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Top trade idea for August 13th, 2015 AUDCAD

By Mircea Vasiu of Capital Properties Fx

Starting to grow bullish on the audcad cross not necessarily because of the weakness of the Canadian dollar but correlations between commodity currencies favor a move to the upside.

The triangle that we see at recent lows has formed a series of three lower lows and this calls for a retracement all the way to the highs in the d wave magenta as the pattern is a reversible one.

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Top trade idea for August 14th, 2015 USD/CNH

By Michael McCarthy OF CMC Markets

Amid all the shenanigans around the Peoples Bank of Chinas moves this week, some may have missed a key development for traders. The Chinese Yuan, or Renminbi, is moving away from its status as a fixed currency towards a floating regime. Trading in Yuan (CNY) for onshore settlement in China is restricted, but there is a Hong Kong settled Yuan (CNH) that is freely available.

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Top trade idea for August 19th, 2015 EUR/NZD

By Fawad Razaqzada of Forex.com

The EUR/NZD has had a remarkable few months, rising from a base of about 1.39 to a high so far this year of 1.71. Yes, that is a gain of 3,200 pips or a huge 82 per cent. But what goes up usually comes back down in FX. While it is possible that further gains could be on the way, this weeks correction may have unnerved the bulls. First it was the false break above the 1.7075 resistance level, which incidentally also corresponded with a bearish divergence on the RSI (which made a lower high).

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Top trade idea for August 20st, 2015 – EURUSD

By Mircea Vasiu of Capital Properties Fx

Time to look at the eurusd as the triangle that is forming on the daily chart has a bullish feeling but it is not completed yet.
In order for this second wave in purple to be a running correction, we need the end of it to be way above the end of the first wave and this implies the d wave in red to break the highs in the b wave in red. In other words, a running triangle to end a running correction and just like that the eurusd pair is bullish as bullish can be.

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Top trade idea for August 21st, 2015 – EUR/USD

By Ric Spooner of CMC Markets

The Euro is approaching trend resistance against $US and will also meet the 200 day moving average at about the same level. It’s not hard to imagine a scenario where the Euro pops through its 200 day average but stops around the trend line just above it. The trend line intersects at around 1.3720 and if price rejects it, this chart will set up for a return to support around 1.08

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Top trade idea for August 25th, 2015 – Gold

By Gregor Horvat of ew-forecast.com

Gold rallied last week to the upper side of a downward channel where break can occur in coming week as rally from the low is having characteristics of an impulsive price action. If that’s the case then ending diagonal complete now which means that metal is turning bullish, but final confirmation for a turning point and big uptrend we need to see broken trendline resistance as well as 1306 swing.



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Top Trade Idea for August 26th, 2015 – GBP/USD

By Matthew Wellery of Forex.com

Amidst the rollercoaster ride that unexpected seized most global markets over the last few days, trade in GBP/USD has remained relatively sanguine. Cable rallied “just” 80 pips on Monday, while the dollar lost far more value against the euro and yen, before reversing that move on Tuesday to trade back at the 1.5700 level. As of writing, it looks like GBP/USD is finally ready for its day in the sun, and so far, the sun seems shining only on the bears.

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Top trade idea for August 27th, 2015 – AUDNZD

By Mircea Vasiu of Capital Properties Fx

This is the audnzd cross and it formed a beautiful impulsive move or five wave structure to the upside followed by a correction.
The recent spike higher that took the 1.14 level when stocks in the United States dropped last Monday basically makes the case for a flat pattern as a b wave in pink and now it remains to be seen if it is going to be confirmed by market.

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Top trade idea for August 28th, 2015 – AUD/USD

By Ric Spooner of CMC Markets

In all the volatility this week , the Aussie Dollar hit a 6 year low of .705 against $US

Here are 4 chart based reasons why this might just turn out to be a significant low

It intersects at potential trend line support which runs through the lows of 2001 and 2008

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Top trade idea for August 31st, 2015 EUR/USD & GBP/USD

By Gregor Horvat of ew-forecast.com

The USD recovered nicely against the EUR last week, clearly with five waves down which means that we are turning bearish again on EUR. However, firstly we need three wave bounce, before we can look for more weakness. Well, price can already be in a correction, but there is room for 1.131-1.1370 before downtrend may finally resume. Ideally pair will fall later this week.



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Top trade idea for September 2nd, 2015 – GBP/CAD

By Fawad Razaqzada of Forex.com

Crude oil prices fell sharply on Tuesday, ending their recent good run of form. After a small bounce back this morning, crude prices came under renewed selling pressure this afternoon following the release of the official US stockpiles report from the EIA which showed among other things a sharp build of 4.7 million barrels for the week ending August 28.


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Top trade idea for September 3rd, 2015 – EURJPY

By Mircea Vasiu of Capital Properties Fx

Looking to buy any dip below the 134 area as from my point of view what we’re seeing on the eurjpy pair is nothing but an impulsive move that ended around the 139 level and this means we should look for a correction.

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Top trade idea for September 4th, 2015 – AUD/NZD

By Michael McCarthy OF CMC Markets

Commodity prices are weighing on currencies of significant producers, such as CAD, NOK, NZD and AUD. However, not all commodities are the same, and more subtle FX traders may look for exposure to particular commodity groups via the relevant currency pairs.

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Top trade idea for September 8th, 2015 – WTI/Crude OIL

By Gregor Horvat of ew-forecast.com

WTI moved sharply from August low; it recovered around 30% in just five days, so move was very agresive. From an Elliott Wave perspective impulses are sharp; these are structured by five subwaves which tells us where the market is headed. To me it tells that temporary low is in place and that price will recover with minimum three waves above $50.

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Top trade idea for September 9th, 2015 – GBP/CAD


By Matthew Weller of Forex.com


Kicking off the upcoming onslaught of central bank meetings, the Bank of Canada opted to leave interest rates unchanged at 0.50% today, as widely expected. Some economists and traders were speculating that the central bank would surprise traders with another unanticipated cut, but the recent recovery in oil prices and solid economic data from the Great White North was enough to keep the BOC on hold.

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Top trade idea for September 10th, 2015 – USDCAD

By Mircea Vasiu of Capital Properties Fx

Usdcad pair looks bearish to me at current levels so I am favoring the downside here as the pattern that was forming to the upside is not an impulsive move, but merely a double flat pattern.
That being the case, the idea is to stay short for the first target, the 1.2860 area with a stop loss at 1.34 and after that, step by step, it should move way lower for the c wave in purple.

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Top trade idea for September 11th, 2015 – EUR/AUD

By Ric Spooner of CMC Markets


This week’s news of better than expected Australian jobs growth; a strong read on the NABBusiness Conditions Index and surprisingly resilient iron ore prices have all led to a positive week for the Aussie Dollar.

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Top trade idea for September 16th, 2015 – EUR/GBP

By Fawad Razaqzada of Forex.com

Contrasting data from the UK and Eurozone has caused the EUR/GBP to turn sharply lower and the cross now appears to be on the verge of a much larger sell-off as the focus returns to the growing disparity of monetary policy between the ECB and the BoE. According to the Office for National Statistics (ONS), the 3-month moving average of UK Average Earnings Index (which includes bonuses) rose to 2.9% in July compared to the same period a year earlier, up from a revised +2.6% reading the month prior.

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