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Top Trade Idea for January 6th, 2017 – AUD/CAD

The Australian trade balance for November shocked traders. Market consensus sought a deficit of around $500 million, an improvement from October’s $1.5 billion deficit. Instead the release showed a surplus of $1.24 billion AND October’s deficit was revised downward. Despite a muted market reaction, this is unambiguously good news for the Australian economy. It also […]

Top trade idea for December 29th, 2016 – EURGBP

Ahead of the year’s end, the US dollar is one currency that will be influenced by new positioning in 2017. Therefore, looking at crosses for a trade is the right thing to do. The above chart is the EURGBP cross on the daily time frame, and this one is giving us a great opportunity for […]

Top trade idea for December 22nd, 2016 – AUDUSD

The chart above is the daily AUDUSD and we’re looking at a possible zigzag pattern as explained on the top of it. A zigzag is formed by two impulsive waves, the a and c-waves, and a small correction for the b-wave. That small correction seems to have completed with the US election when the US […]

Top trade idea for December 16th, 2016 – GBP/JPY

There have been some magnificent trend in the Yen pairs in recent weeks but this one has reached an interesting stage. GBP/JPY is at the 61.8% retracement level of the last major decline and that’s a level that can often halt a rally. It’s showing signs of possible divergence against the RSI.  If the daily […]

Top trade idea for December 15th, 2016 – EURJPY

Now that the Federal Reserve of the United States is behind us, we can move on with the end of year trading as the Fed delivered: a 25 basis points hike to 0.75%. The best thing to do in such volatile times is to avoid trading the US dollar and focus on crosses. That is, […]

Top trade idea for December 13th, 2016 – USD/CHF

On theDailychartofUSDCHFwe are looking at a higherdegreecomplexcorrection, a threewave A-B-C rise ofwave IV, thatseems to be in actionsinceendof December of 2014. Thatsaid as wecansee, pairrecentlycompleted a triangle correction in theconnectingwave B andmade a sharpreversalhigher, abovethe sub-wave D swing. As suchwenowbelievepricemayunfold a five-wavedevelopmentwithinthefinalwave C of Y), beforemaking a higherdegreeimpulsivedroptowardsnewlows. Ideallypricewill make a run towardsthe 1.0700/1.0750. USDCHF, […]

Top trade idea for December 9th, 2016 – NZD/USD

Clean and Simple Occasionally, after trawling through hundreds of charts, you find a trade that cleanly fits all of your trading plan’s rules. Those focussed on Bollinger Bands as a technical indicator may have that thrilling experience in NZD/USD. Saving a thousand words: The pair traded out through the top Bollinger Band. Then it reverted […]

Top trade idea for December 8th, 2016 – USDCHF

The USDCHF pair is one currency pair that it is extremely tricky to trade. There are multiple reasons for this, but the main ones are: the CHF is being viewed as a safe haven currency, and the SNB (Swiss National Bank) is one central bank that constantly intervenes to support the CHF. Because of the […]

Top trade idea for December 2nd, 2016 – EUR/USD

The Euro is thinking about completing a bullish head and shoulder pattern. It’s doing so as markets head into the US Jobs data and the Italian referendum this weekend. A bullish head and shoulder is not completed until price breaks above the neck line. Given the potential for volatility surrounding the jobs data and referendum, […]

Top trade idea for December 1st, 2016 – USDCAD

We’re still looking at the USDCAD pair as the latest OPEC saga didn’t bring anything new to the pair in the sense that price is not going anywhere. That being said, back on the daily chart above, the pattern seems to be virtually unchanged. OPEC agreed to cut oil production starting with next January and, […]

Top trade idea for November 30th, 2016 – EUR/CAD

Despite oil’s massive rally on the back of the OPEC news, the Canadian dollar, which tends to correlate strongly with oil prices, has hardly moved against its major rivals. Indeed, the USD/CAD momentarily turned positive. The EUR/CAD is still down on the day, but it too has held its own relatively well. One has to […]

Top Trade Idea for 11/26/16 – EUR/AUD

  Mathematics is a pure and perfect world. Markets are not. While there are rules for defining technical factors and indicators, sometimes the art of technical analysis requires traders understand what the rules  mean  if they want to avoid crowded trades. This brings us to EUR/AUD. The downward move in EUR/AUD that began mid 2015 […]

Top trade idea for November 24th, 2016 – USDCAD

Back to the USDCAD pair today as the pattern that the market forms here is quite a complicated one. In the end, it turns out that this is a triangle that has for the e-wave a triangle of a lower degree. The whole structure is a very complex one and results in more than thirteen […]

Top trade idea for November 18th, 2016 – Platinum

What interests me about platinum today is a potential double bottom pattern The US Bond sell-off has lost momentum this week. The market is making up its mind about whether to extend the sell off after a brief pause or stage a corrective rally. Precious metals are likely to follow this lead. If bonds do […]

Top trade idea for November 17th, 2016 – EURAUD

The EURAUD cross shown above is forming a contracting triangle that is supposed to be part of a larger correction for the b-wave of a bigger degree. That being said, this contracting triangle should be a bullish one, but the e-wave is most likely not completed yet. The thing is that price should not break […]

Top trade idea for November 16th, 2016 – EUR/USD

EURUSD is turning sharply lower now from 1.1300 area, where pair might have finally accomplished a big and very long sideways pattern in wave IV. It was a triangle pattern which is pointing now to new lows as price keeps trying to make a decisive break beneath the wave D swing low at 1.0847. EURUSD, […]

Top trade idea for November 11th, 2016 – AUD/USD

Capitulation. A market phenomenom that should be on every traders’ radar. This market dyanamic has many different expressions, but the underlying principle remains. A market direction is widely accepted as inevitable. It is the consensus trade. The market fails to move in the “right” direction, and then moves the other way, catching out all those […]

Top trade idea for November 10th, 2016 – GBPCHF

The GBPCHF cross is looking bullish here as it may benefit from two factors moving forward: one will be the overall sell-off in the CHF as the USDCHF major seems poised to break the parity level, and the other one will be the GBP resilience. The US election brought both a panic and a relief […]

Top trade idea for November 4th, 2016 – EUR/USD

EURUSD heads into tonight’s US jobs data with its chart interestingly placed As the Daily chart above shows, yesterday’s peak was neatly at the support of the recent major triangle pattern. If the Euro starts to fall away from here, it will constitute a classic pattern “retest” where old support acts as new resistance. 4 Hour […]

Top trade idea for November 3rd, 2016 – USDCAD

Before taking a look at the chart above, please consider two things: it is on quite a big time frame, the weekly one, and it is being made exactly one week ago. The reason why I chose to make the chart a week ago is due to the fact that this pattern here requires the […]