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AUD/JPY Downside Risks Remain Whilst Trade Tensions Continue To Escalate

Escalated trade tensions saw AUD/JPY hit its lowest level since January's flash crash, yet dominant forces likely point lower still, without a trade deal in sight. China's retaliation kept sentiment on the back ropes, seeing USD/JPY hit a 3-month low and FX traders flock back to the yen. AUD/JPY was...

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Trade Idea Wrap-up: USD/CHF – Stand aside (FINAL UPDATE)

As the greenback found support at 0.9828 and staged a strong rebound, retaining our view that further consolidation would be seen with mild upside bias for gain to 0.9915-20, however, break of resistance at 0.9935-36 is needed to signal low has been formed, bring a stronger rebound to 0.9960-65 but indicated resistance at 0.9978 should hold

Trade Idea Wrap-up: GBP/USD – Stand aside

As the British pound found support at 1.3332 yesterday and rebounded, retaining our view that further consolidation would be seen, however, reckon downside would be limited to support at 1.3331-32, bring another rebound. Only a drop below 1.3331 would signal the rebound from 1.3302 has ended and revive bearishness for a retest of 1.3302 first, break there would extend weakness towards

Trade Idea Wrap-up: EUR/USD – Hold long entered at 1.1820

Although the single currency retreated after meeting resistance at 1.1902 earlier this week and consolidation below this level would be seen, reckon downside would be limited and bring another rise later, above 1.1880 would signal the pullback from 1.1902 has ended, bring retest of this level, break there would extend the erratic upmove from 1.1717 towards

Trade Idea Wrap-up: USD/JPY – Stand aside

Although the greenback retreated after rising to 113.64 and consolidation below this level would be seen, reckon pullback would be limited to 113.00-10 and renewed buying interest should emerge around 112.80, bring another rise later, above said resistance would extend the move from 112.03 to resistance at 113.75, however, break there is needed to signal the rise from 110.84 low has resumed for

Trade Idea: USD/CAD – Stand aside

Despite this week’s anticipated resumption of recent rise, as the greenback has retreated sharply after faltering below indicated dynamic level at 1.2927 (50% Fibonacci retracement of 1.3547-1.2061), suggesting top has possibly been formed at 1.2920, hence downside risk is seen for weakness to 1.2650-55, however, as broad outlook remains consolidative, reckon support at 1.2623 would remain intact

EUR/JPY Elliott Wave Analysis





The single currency found renewed buying interest at 132.05 last week and has rallied above indicated previous resistance at 134.50, confirming medium term upmove has resumed and may extend further gain to 135.00-10, then 135.50-60, however, near term overbought condition should prevent sharp move beyond 136.00-10 and price should falter below 136.90-00, the pair should falter well below

Trade Idea: GBP/USD – Stand aside

Despite slipping to 1.3332 yesterday, the subsequent rebound suggests further choppy trading would be seen and another bounce to 1.3400 cannot be ruled out, however, a firm break above resistance at 1.3420 is needed to revive bullishness and extend the rebound from 1.3302 low towards resistance at 1.3466. Only a break of this level would signal the entire correction from 1.3550 top has ended at 1.3302, bring further gain to

EUR/JPY Candlesticks and Ichimoku Analysis




The single currency found renewed buying interest at 132.05 late last week and has staged a strong rebound, the breach of previous resistance at 134.50 confirms recent upmove has resumed and upside bias is seen for this move to extend further gain to 135.00, then 135.50-60, however, near term overbought condition should prevent sharp move beyond 136.00-10 and price should falter below

Trade Idea : USD/CHF – Buy at 0.9860

As the greenback found support at 0.9828 and staged a strong rebound, retaining our view that further consolidation would be seen with mild upside bias for gain to 0.9915-20, however, break of resistance at 0.9935-36 is needed to signal low has been formed, bring a stronger rebound to

Trade Idea : GBP/USD – Stand aside

As the British pound found support at 1.3332 yesterday and rebounded, retaining our view that further consolidation would be seen, however, reckon downside would be limited to support at 1.3331-32, bring another rebound. Only a drop below 1.3331 would signal the rebound from 1.3302 has ended and revive bearishness for a retest of 1.3302 first, break there would extend weakness towards

Trade Idea : EUR/USD – Hold long entered at 1.1820

Although the single currency retreated after meeting resistance at 1.1902 earlier this week and consolidation below this level would be seen, reckon downside would be limited and bring another rise later, above 1.1880 would signal the pullback from 1.1902 has ended, bring retest of this level, break there would extend the erratic upmove from 1.1717 towards

Trade Idea : USD/JPY – Buy at 112.80

Although the greenback retreated after rising to 113.64 and consolidation below this level would be seen, reckon pullback would be limited to 113.00-10 and renewed buying interest should emerge around 112.80, bring another rise later, above said resistance would extend the move from 112.03 to resistance at 113.75, however, break there is needed to signal the rise from 110.84 low has resumed for

Trade Idea Wrap-up: USD/CHF – Buy at 0.9860

Despite yesterday’s brief fall to 0.9828, lack of follow through selling on break of previous support at 0.9835 and the subsequent rebound suggest consolidation would be seen with mild upside bias for gain to 0.9915-20, however, break of resistance at 0.9935-36 is needed to signal low has been formed, bring a stronger rebound to 0.9960-65 but indicated resistance at 0.9978 should hold

Trade Idea : GBP/USD – Stand aside

As the British pound retreated after rebounding to 1.3420 in part due to cross-trading, suggesting consolidation would be seen, however, reckon downside would be limited to support at 1.3331, bring another rebound. Only a drop below 1.3331 would signal the rebound from 1.3302 has ended and revive bearishness for a retest of 1.3302 first, break there would extend weakness towards

Trade Idea Wrap-up: EUR/USD – Buy at 1.1820

As the single currency has eased after rising to 1.1902 yesterday, minor consolidation below this level would be seen and pullback to 1.1840 cannot be ruled out, however, reckon 1.1805-10 would contain downside and bring another rise later, above said resistance at 1.1902 would extend the erratic upmove from 1.1717 towards

Trade Idea Wrap-up: USD/JPY – Buy at 112.80

As the greenback has maintained a firm undertone after staging a strong rebound from 112.03, adding credence to our bullish view for this move to bring test of resistance at 113.75, however, break there is needed to signal the rise from 110.84 low has resumed for headway towards

Trade Idea: EUR/GBP – Hold long entered at 0.8810

As the single currency has risen again after brief pullback, retaining our bullish view that the rise from 0.8690 low is still in progress and upside bias remains for this move to bring retracement of recent decline to 0.8910-15, then towards 0.8945-50, however, near term overbought condition should limit upside and price should falter well below

USD/CHF Elliott Wave Analysis

Although the greenback met resistance at 0.9935 last week and price has slipped again this week, reckon downside would be limited to 0.9800-10 and bring another rise later, above said resistance at 0.9935 would signal the pullback from 0.9978 has ended and bring retest of this level, break there would add credence to our view that correction from 1.0039 is over, bring further gain to

Trade Idea: EUR/JPY – Stand aside

The single currency has rallied and broke above previous resistance at 134.50, confirming recent upmove has resumed and we have relabeled our bullish count that, only wave v of iii ended at 134.50, followed by wave iv at 131.17, hence wave v is unfolding and may extend gain to 135.00-10, then 135.50, however, near term overbought condition should limit upside and

GBP/USD Candlesticks and Ichimoku Analysis

Although the British pound fell marginally to 1.3302 late last week, the subsequent rebound suggests further consolidation would b seen and test of 1.3420 cannot be ruled out, however, a daily close above resistance at 1.3466 is needed to signal the pullback from 1.3550 has ended and bring further gain to 1.3500, then retest of 1.3550. Only a break above this recent high would abort and signal the rise from 1.3027 has resumed

Trade Idea : USD/CHF – Stand aside

Despite yesterday’s brief fall to 0.9828, lack of follow through selling on break of previous support at 0.9835 and the subsequent rebound suggest consolidation would be seen, however, break of 0.9886 resistance is needed to signal low has been formed, bring a stronger rebound to 0.9910-15 but indicated resistance at 0.9935-36 should hold

Trade Idea : GBP/USD – Stand aside

As the British pound retreated after rebounding to 1.3420 in part due to cross-trading, suggesting consolidation would be seen, however, reckon downside would be limited to 1.3350 and support at 1.3331 should hold, bring another rebound. Only a drop below 1.3331 would signal the rebound from 1.3302 has ended and

Trade Idea : EUR/USD – Buy at 1.1820

As the single currency has eased after rising to 1.1902 yesterday, minor consolidation below this level would be seen and pullback to 1.1840-50 cannot be ruled out, however, reckon 1.1805-10 would contain downside and bring another rise later, above said resistance at 1.1902 would extend the erratic upmove from 1.1717 towards resistance at 1.1940 which is likely to hold

Trade Idea : USD/JPY – Buy at 112.80

As the greenback has maintained a firm undertone after staging a strong rebound from 112.03, adding credence to our bullish view for this move to bring test of resistance at 113.75, however, break there is needed to signal the rise from 110.84 low has resumed for headway towards 113.95-00, then towards

Trade Idea Wrap-up: USD/CHF – Exit long entered at 0.9850

Despite intra-day brief bounce to 0.9886, the subsequent selloff on dollar’s broad-based weakness dampened our near term bullishness and downside risk remains for the decline from 0.9978 to extend weakness to 0.9795-00, however, reckon downside would be limited to 0.9750 and risk from there has increased for a rebound later

Trade Idea Wrap-up: GBP/USD – Stand aside

As the British pound has edged higher on back of the rally in euro, dampening our bearishness and near term upside risk remains for test of 1.3419 resistance, break there would extend the rebound from 1.3302 to 1.3445-50, however, reckon indicated resistance at 1.3466 would hold from here, bring retreat later.

Trade Idea Wrap-up: EUR/USD – Buy at 1.1820

As the single currency has surged again in NY morning and broke above indicated previous resistance at 1.1864, adding credence to our view that another leg of the rise from 1.1717 is underway and bullishness remains for this move to extend further subsequent gain to 1.1900 but price should falter below resistance at 1.1940 today, risk from there is seen for a retreat later

Trade Idea Wrap-up: USD/JPY – Buy at 112.80

As the greenback has continued trading with a firm undertone, adding credence to our bullish view that the rise from 112.03 low is still in progress and may extend further gain to 113.40, then towards resistance at 113.75, however, break there is needed to retain bullishness and signal the rise from 110.84 low has resumed for headway towards