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Top trade idea for January 22nd, 2016 – USD/CAD

By Michael McCarthy of CMC markets

Good central banking, like good comedy, is all about timing. The Bank of Canada’s decision to hold off on a rate cut on Wednesday is looking wiser following the oil market rally on Thursday. Oil price weakness is the major driver of cuts to Canadian growth expectations.

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Top trade idea for January 25th, 2016 – $GBPUSD

By Vladislav Antonov of Alpari

Trading opportunities for currency pair: a candle with a small body and a long lower shade has formed. The rebound was 180 points. It’s likely that we will see an upward correction to 1.4565.

Top trade idea for January 26th, 2016 – GBP/USD

By Gregor Horvat of ew-forecast.com

GBPUSD made another bearish leg after the price took out 1.4560 level as noted in our past updates. Notice that current decline is extended, so it must be impulsive as part of a much bigger bearish cycle. However, price reached our Fibonacci projected levels for current wave 3-circled where bearish wave can be slowing down; but not for long as current bounce will be treated as a correction within ongoing weakness towards 1.4000.

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Top trade idea for January 27th, 2016 – USD/CHF

By Matthew Weller of FOREX.com

Two weeks ago, we highlighted a constructive candlestick pattern off bullish trend line support on USD/CHF and concluded that the pair could well bounce toward near-term Fibonacci resistance levels at 1.0120 (61.8%) and 1.0210 (78.6%). It took its time getting there, but USD/CHF finally edged up to test the 1.0210 level yesterday, leaving the pair trapped between the proverbial “rock and a hard place” ahead of today’s Fed meeting.

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Top trade idea for January 28th, 2016 – USD/JPY

By Mircea Vasiu of capitalpropertiesfx.com

This USDJPY scenario is based on the fact that any three waves structure as a flat pattern needs to retrace minimum 61.8% and this retracement means that we should see another move above 121.34, where the mentioned level stays. It is difficult to imagine what would cause the spike there but we as technicians are not supposed to ask those kind of questions.

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Top trade idea for January 29th, 2016 – AUD/USD

By Ric Spooner of CMC Markets

The Aussie Dollar looks like it might be completing a Gartley pattern. The Gartley is a 3 part correction that sets up for a trade in the direction of the major trend. In this case the correction is a rally, with the major trend being down.


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Top trade idea for February 1st, 2016 – EUR/USD


By Vladislav Antonov of Alpari


Trading opportunities for currency pair: the euro/dollar has slid to the trend line. From here we could see a bounce since Monday’s movements usually go against Friday’s. The bounce level will tell us how the sellers are set up. A growth to 1.0938 means we should prepare for a break through 1.0985 and then 1.1025.

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Top trade idea for February 3rd, 2016 – GBP/USD

By Fawad Razaqzada of Forex.com

So weak has been the dollar this week that even the GBP/USD has managed to regain its poise. Clearly, traders are no longer expecting the US Federal Reserve to embark on an aggressive tightening cycle after the central bank had hinted in December at several more interest rate rises when it increased rates for the first time since 2006. Since December, concerns have increased over the US economic outlook while worries over China have also intensified.


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Top trade idea for February 4th, 2016 – EUR/NZD

By Mircea Vasiu of capitalpropertiesfx.com

The eurnzd cross is forming an interesting pattern here that resembles a pennant so far and the beauty of it is that it comes after a so-called truncated zigzag that needs to be retraced minimum 80% and most of the times the retracement level exceeds 100%. That being said, we want to stay on the long side when the consolidation area or the range of the pennant is ending and this is happening on a move above 1.70, hence the entry level.


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Top trade idea for February 5th, 2016 – EUR/JPY

By Michael McCarthy of CMC markets

The European Central Bank versus the Bank of Japan – who will win? Both are pursuing a “competitive devaluation” strategy through monetary stimulus, both desperately need the boost a lower currency can deliver to their respective economies. Over the last 7 months, the ECB has the edge, but that may change very soon.




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Top trade idea for February 8th, 2016 – GBP/CAD

By Vladislav Antonov of Alpari

Trading opportunities for currency pair: the price has broken from the support. We have two pinbars and a double bottom. On Monday it’s better not to make any big deals and keep an eye on the price of oil. If the GBP/CAD doesn’t fall, we could see two price zones as a target: 2.0325 and 2.0550.


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Top trade idea for February 9th, 2016 – $AUDUSD

By Gregor Horvat of ew-forecast.com

AUDUSD has turned nicely down last week from 0.7240 where we expected to see a new turning point after seven legs of recovery from January lows. Recovery was overlapping and slow so we labeled it as a corrective move, probably it was wave C within a big triangle so new three wave decline can now be in the cards. If we are correct, then traders should be aware of a decline even back to 0.6900 area while highs from last week at 0.7240 are not breached.

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Top trade idea for February 10th, 2016 – USD/JPY

By Matthew Weller of FOREX.com

It’s been a busy day so far for central bankers, especially in Japan and the US. As we noted on Monday, the yen has seen massive safe haven / carry trade unwinding flows over the last two weeks, and as a result, USD/JPY is now falling for its 7th consecutive day to a new 15-month low under the 115.00 level. Unfortunately for the Bank of Japan, the last thing the Japanese economy needs is a strengthening currency driving down inflation and exports further.


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Top trade idea for February 11th, 2016 – EUR/USD

By Mircea Vasiu of capitalpropertiesfx.com

Complex correction for the eurusd pair as the move to the upside, despite the fact that it is really aggressive, it is not an impulsive move, but a corrective one. If that is the case, judging by the fact that there were little or no retracements, it means it is a zigzag family pattern and what we’re hunting here is a triple zigzag. It means that market needs to end in the upper side of that channel and that brings the 1.1370 level into discussion.

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Top trade idea for February 12th, 2016 – NZD/USD

By Michael McCarthy of CMC markets

The confluence of fundamental and technical influences makes a trade more compelling for some traders. Those in this category may be following NZD/USD carefully at the moment.As the Fed embarks on its tightening cycle the RBNZ appears to be heading towards easing.


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Top trade idea for February 17th, 2016 – GBP/CAD

By Fawad Razaqzada of Forex.com

This week’s mixed-bag UK economic data has caused the pound to fall against most major currencies, including the Canadian dollar which has managed to perform well recently despite the increased volatility in crude oil prices. The relatively strong performance of the Canadian dollar of late suggests that a bottom in crude is either in place or very close, or that the effects of oil price drops are dissipating. But it could also be due to the non-resources sector of the Canadian economy, which has performed well recently as acknowledged, for example, by the Bank of Canada.

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Top trade idea for February 18th, 2016 – EUR/JPY

By Mircea Vasiu of capitalpropertiesfx.com

The eurjpy pair above is one of the most difficult pairs to be traded this start of 2016 and the reason for that comes from the fact that market is forming a so called double combination on the weekly chart. That being said, one week or three weeks represent only two or three candles in the overall picture and this is the danger that comes from trading this pair: you’ll have the impression market is doing nothing until it explodes higher.

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Top trade idea for February 19th, 2016 – USD/SGD

By Michael McCarthy of CMC markets

Wobbles in sentiment and a subsequent run of slightly softer US data weakened the USD in the first weeks of 2016. Despite analysts and interest rate markets suggesting the Fed will defer it’s tightening timetable – and possibly cut rates (!) – the Fed thinking as revealed in its most recent meeting minutes appears determined to lift rates, albeit in a market and data sensitive way.


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Top trade idea for February 24th, 2016 – EUR/GBP

By Matthew Weller of FOREX.com

At the beginning of the week, we highlighted the massive market uncertainty surrounding the upcoming vote on “Brexit” (UK exit from the European Union), concluding that, “While it’s difficult to handicap the near-term price action, we’re inclined to look for more downside in GBP/USD given the ongoing uncertainty and bearish momentum. A close below 1.4080 would likely open the door for a run down to psychological support at 1.40, if not lower.” With the pair hitting a low near 1.3880 this morning, you could argue that even that bearish view was too conservative.

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Top trade idea for February 25th, 2016 USD/CAD

By Mircea Vasiu of capitalpropertiesfx.com

USDCAD feels extremely bearish here as it is preparing to break lower out of a potential triangle that acts as a continuation pattern. However, this is not the reason why were recommending staying short, but the fact that this move comes after a triple zigzag to the upside. That zigzag has extreme implications on the future price action of this pair in the sense that it is a corrective wave part most likely of a complex correction.


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