ForexNews.com - Trading Ideas

Top trade idea for July 7th, 2016 – EURJPY

By Mircea Vasiu of capitalpropertiesfx.com

The chart above shows the EURJPY cross and given the nature of this pattern that formed after the Brexit vote, I would say it is just the beginning to a more ample move and therefore would recommend to stay short for 106.87 with 114.10 stop loss. The whole pattern from the end of wave d in black on the top left of the chart seems to be nothing but a so called flat and therefore wave c in blue must be a five wave structure, or an impulsive wave. Having said that and considering the fact that the retracement level after the Brexit vote was not more than 50%, it means that the third wave to have started should end around 106.87.


For Article with Full Trade Set-up Click Here.

Top trade idea for July 8th, 2016

By Ric Spooner of CMC Markets


If you are hoping for a pull back to buy into the gold rally, there are signs one might be getting close.As we head into the Non-Farm Payroll release, the gold chart is suggesting a short term bias to the downside. Gold may more likely to sell off on jobs data that’s close to or better than expectations than it is to rally on a soft number.


For Article with Full Trade Set-up Click Here.

Top trade idea for July 11th, 2016 – NZD/CAD

By Vladislav Antonov of Alpari

The NZD/CAD is at the upper limit of the upward trend channel. It’s worth buying from the trend line with 0.9585-0.9663 targets. Example purchase level – 0.9345 (23.6% from 0.8693 to 0.9548). Growth to cancel with a break of the trend line (daily candle closes below this line.


For Article with Full Trade Set-up Click Here.

Top trade idea for July 13th, 2016

By Gregor Horvat of ew-forecast.com


Stocks recovered very nicely and sharply since mid of February so new bullish reversal is here. Reason for a bullish trend is a five wave rise from 1802 which is an impulsive structure that shows direction of a trend. As such, we will continue to look even higher if we consider that recent retracement down to 1980 psychological level has a corrective look, possibly wave II flat correction that appears completed.


For Article with Full Trade Set-up Click Here.

Top trade idea for July 14th, 2016 – AUD/USD

By Mircea Vasiu of capitalpropertiesfx.com


Ugly pattern on the AUDUSD pair in the sense that we have a double combination to the downside that retraced between 61.8% and 70% only to be followed by a strong bounce higher. However, a closer look at this bounce is telling us that this is no impulsive wave, even though we kind of need one as we’re talking about the c wave of a flat pattern. Therefore, even though it seems to be impossible, we have to label it with numbers and try to find out a possible five wave structure.

For Article with Full Trade Set-up Click Here.

Top trade idea for July 15th, 2016 – GBP/USD

By Ric Spooner of CMC Markets


“The trend is your friend.” It’s one of the market’s great old sayings and this is exactly the kind of situation it refers to. After a massive decline, the Pound has begun to rally. At this stage, my presumption is that this is a corrective rally. As such its likely to present an opportunity to sell, taking a short position that sticks with the major downtrend.


For Article with Full Trade Set-up Click Here.

Top trade idea for July 21st, 2016 – EUR/USD


By Mircea Vasiu of capitalpropertiesfx.com

Ahead of the ECB today I would like to show a bearish pattern in the makings on the EURUSD pair and it doesn’t really matter if it is going to be a Euro related move lower or a US dollar move higher, the path of least resistance here is the downside and not the upside. In technical terms, the EURUSD is forming an impulsive wave with the second wave most likely not being completed yet and probably being a running correction. It means it will end lower and from that point on we should apply the minimum extension or the measured move the find out the potential end for the third wave.


For Article with Full Trade Set-up Click Here.

Top trade idea for July 22nd, 2016 – EUR/USD

By Ric Spooner of CMC Markets

Draghi’s dilemma puts EURUSD double bottom in play The ECB’s caution on post Brexit stimulus has seen the Euro pause at chart support. Today’s Flash PMI data might decide whether this turns into a full corrective rally .Yesterday, the ECB signalled its perfectly sensible intention to wait until it has a clearer picture of the economic impact of Brexit before adding more stimulus. The Bank of England recently adopted a similar position but was a bit more forthright about the likelihood of acting at its August meeting.


For Article with Full Trade Set-up Click Here.

Top trade idea for July 26th, 2016 – AUD/USD

By Gregor Horvat of ew-forecast.com


AUDUSD has turned down from 0.7834 high in May after wave C-circled completed a big corrective wave IV flat pattern. A flat has a 3-3-5 sub-wave structure, so it was a contra-trend movement that should send price back to the lows. So far, market made a very good and strong bearish turn to 0.7130 with clearly impulsive personality, thus we believe that big black wave V is underway




For Article with Full Trade Set-up Click Here.

Top trade idea for 28th July – EURJPY

By Mircea Vasiu of capitalpropertiesfx.com

EURJPY resilience to move lower after the Brexit vote calls for a more cautious approach to the overall risk sentiment as Bank of England provided more liquidity and Bank of Japan announced another fiscal stimulus package.

That being said, this move to the downside that started from the top left corner of the chart above can only be interpreted as corrective wave and 61.8% retracement is needed for a b wave to correct the initial drop.

For Article with Full Trade Set-up Click Here.

Top trade idea for July 29th, 2016 – GOLD

By Ric Spooner of CMC Markets

Last week’s low in gold looks like a rejection of support and the 38.2% Fibonacci retracement. Moves to the 38.2% level often turn out to be the first move in a deeper correction.

For Article with Full Trade Set-up Click Here.

Top trade idea for August 4th, 2016 – AUDUSD

By Mircea Vasiu of capitalpropertiesfx.com

The ugly chart above is the audusd pair that is looking as bearish as bearish can be despite the heavy buying on each and every dip. Not even the RBA (Reserve Bank of Australia) rate cut wasn’t able to bring this beast down, despite the fact that only 70% chances were priced in. It doesn’t make it bullish though!
The pattern is a corrective one, even if it is labeled with numbers, and by the time it is completed it should result in a full retracement all the way until the middle 0.71 range. I know it sounds like a big distance to be travelled, but it is the way it is and bulls are warned.


For Article with Full Trade Set-up Click Here.

Top trade idea for August 5th, 2016 – GBP/AUD

By Michael McCarthy of CMC Markets

Both the Reserve Bank of Australia and the Bank of England cut rates this week. However, there is a clear difference in the performance of the respective currencies. Sterling’s move was a text book response, but the Aussie confounded expectations by rising. Naturally, this has traders watching GBP/AUD closely.
The RBA cut rates on Tuesday from 1.75% to 1.50%. The AUD fell against the USD by about 40 points, before rallying back in the next few hours to finish the session ABOVE the point at which the announcement occurred.

For Article with Full Trade Set-up Click Here.

Top trade idea for August 10th, 2016 – GBP/USD

By Gregor Horvat of ew-forecast.com

S&P500 is trading nicely higher this month, currently at new all-time high after a completed flat correction in wave 4) at 2139 support area. As such, current leg up is red wave 5) that can be headed up to 2200 psychological region where traders need to be aware of resistance that may send index into a pullback.



For Article with Full Trade Set-up Click Here

Top trade idea for August 12th, 2016 – USD/JPY

By Michael McCarthy of CMC Markets

Many traders do their utmost to avoid crowded trades. Usually, they were hurt at some stage in their trading career by a “buy the rumour, sell the fact” scenario. That is, their analysis was right, but the market moved the “wrong” way. This is the reason some traders will deliberately seek different parameters, different ways of looking at markets.

For Article with Full Trade Set-up Click Here

Top trade idea for August 18th, 2016 – EUR/USD

By Mircea Vasiu of capitalpropertiesfx.com

The EURUSD looks set to completely retrace the Brexit move if one is judging by the aggressiveness of this bullish reaction. However, from my point of view this is nothing but a bearish triangle part of a double combination and this triangle needs to break lower, not higher. That being said, staying short and fading this move is only normal and I would say that the downside move needs to be as faster as the upside one, maybe even more aggressive.

For Article with Full Trade Set-up Click Here

Top trade idea for August 19th, 2016 – AUD/USD

By Ric Spooner of CMC Markets

The Aussie has lost upward momentum against $US this week. On the chart this is indicated by:
A trend peak under the upper Bollinger Band following the strong momentum peak above it and
The slow stochastic indicator now trending down from the overbought zone.

For Article with Full Trade Set-up Click Here

Top trade idea for August 23rd, 2016 – USD/NOK

By Gregor Horvat of ew-forecast.com

On the 4h chart of crude oil we can see that price made a nice rally from the lows, for now in three waves but because of strong bullish momentum with sharp price action up to 161.8% Fibonacci ratio, we believe market made wave 3) as part of a bullish impulse. That said, current downward reversal is probably wave 4) that can move back down to 45-46 area, the region of two common Fibonacci ratios for wave four corrections, 23.6 and 38.2, from where a new turn up would be expected.



For Article with Full Trade Set-up Click Here

Top trade idea for August 26th, 2016 – USD/SGD

By Michael McCarthy of CMC Markets

The annual meeting of central bankers at Jackson Hole is here at last. MsYellen’s set speech, entitled “The Federal Reserve’s Monetary Policy Toolkit”, may or may not attempt to move market thinking towards a faster interest rate tightening cycle.

Before you say “meh”, consider the market positioning. The forward interest rate curve varies but is expressing doubt that there will be a Fed rate rise this year, with the probability fluctuating between 40% and 60%. However, the outcome is binary, and the timing could vary. At this stage, markets are giving less than full weight to a rate rise.

For Article with Full Trade Set-up Click Here

Top trade idea for September 1st, 2016 – USD/JPY

By Mircea Vasiu of www.capitalpropertiesfx.com.

The chart above is the USDJPY pair and shows the whole move down from above the 120 level to the all-important 100 one. The 100 seems to be more of a psychological level as it has virtually no importance from a technical point of view. However, the market always finds some magic surrounding round numbers and it seems this is true here as well.

For Article with Full Trade Set-up Click Here