Trade Ideas

I still like a short play on USD/CAD as it seems to drift lower on the one hour chart. Oil prices are back on the rise with geopolitical issues out of the Middle East, which is helping the pair drift lower. I drew a fib extension to help me find possible levels of support and …

It was a snoozer of a day in the AUD/USD market as the pair ranged at about 27 pips since 12 am EST. Just my luck, the top of the day’s range did manage to trigger to long order. Fortunately, I closed out the trade with only a 9 pip loss per lot. Lot 1: …

Last week I had a short play on AUD/USD, but now it’s time to go long again. It seems like dollar bears are on the rise and commodities are making a new run up which makes a long play on AUD/USD very attractive. On the one hour chart, the pair made a run up before …

Monday: No trade Tuesday: +70 pips Wednesday: -60 pips Thursday: No trade Total: +10 pips We saw the possibility of future rate hikes drop significantly in the US after a week of negative US data reports, but the greenback still gained on most of the major currencies. I don’t get it – isn’t the opposite …

In Fridays trade, we saw the pair drift lower as expected, but without any retracement. No trade entered.

Our short entry was entered on USD/CAD and stopped out for a loss…we were only 6 pips away from hitting pt1 and walking away with some pips… doh!!! It seemed the market was pretty dead until about 12 pm EST when Philly Fed Index came out way, way, way better than expected.  Dollar bullishness meant …

Without any major economic reports coming out tomorrow, I’m looking to enter a couple of short plays on the AUS/USD, and to catch what seems to be a short term downtrend. It looks like the pair stalled at the 0.7600 level. I’d like to see a small relief rally before I jump in short to …

Tonight’s pick is on USD/CAD. It’s been in downtrend amidst US dollar bearish sentiment and higher oil prices. With today’s double economic whammy of lower US CPI and Housing Starts, we may see greenback sell off continue as the probability of another FOMC rate increase drops. To find a great price to jump in the …

It looks like we got a little lucky today as our short entry was triggered and was nearly stopped out! Luckily, the CPI and US Housing starts came in numbers lower than expected causing a sell off in the greenback and our trade to come to full profitability. Lot 1: +20 pips Lot 2: +50 …

Well, the chart says it all – besides a little volatility at the beginning of the Euro trading session, this pair went virtually no where. Of course, we shouldn’t be surprised. Many pairs have been stuck in a trading range as economies around the world are second guessing what central banks may do in the …

The USD/CHF has been in a very tight range of about 12 pips since the close of the US trading session this afternoon. Traders are on the sideline as we have significant US economic reports coming out tomorrow, most notably US Consumer Confidence report. With a range so tight, I feel we should se a …

We have a great looking chart on EUR/JPY. The euro has been making new all time highs against the yen, but when’s it going to end? Again, who knows? The Eurozone economy has been getting better and better, and the ECB has inflation concerns on their mind. We don’t have any news reports coming out …

Monday: No trade Tuesday: -50 pips Wednesday: -40 pips Thursday: +25 pips Total: -65 pips

We are taking a look at our USD/CAD trade on a 10 minute chart to get a better view of price action on Friday. Our long entry trade was hit as the pair drifted down before Friday’s economic reports. Retail Sales gave the greenback a boost and we saw pt1 hit soon after. Unfortunately, loonie …

For those of you who follow my picks regularly (in which I greatly appreciate), you may have noticed an error in my short entry order last night. Instead of short at 1.2290, it was supposed to be 1.2190. While I could respond and send a corrected level to those who emailed me, I couldn’t correct …

We’re seeing US dollar strengthening after the foiled terror plots (traders tend to run to the US dollar on terror news) and better than expected US economic data today. Even with good numbers out of Canada, the loonie still gave way to the greenback, a move which was also fueled by lower oil prices. After …

Okay, so my trade idea from last night got blown out of the water! It’s my fault though. I made a mistake I’ve made before, which is I forgot that the FOMC rate decision was at 2:15 pm EST – after the European and Asian traders has stopped trading. So, when the euro trading session …

The big news report tomorrow would have to be the US Trade Balance report. Forecasters are expecting a higher deficit because of higher export prices, due to a stronger greenback, and higher oil prices; so we should see a drop in the USD/CHF tomorrow. In will have a short trade idea in case this scenario …

Tonight’s pick is on the AUD/USD. As you can see on the one hour chart, the pair has found the 0.7600 level as an area of support, but are we seeing a break of that level now? Well, we’ve seen Australian Business and Consumer confidence reports dropping in recent months showing signs of weakness. Add …

After the FOMC report we saw some whipsaw action in the US dollar across the board. First, it sold off, then traders went long the greenback after comments by the FOMC that left the door for possible future rate hikes. With all of this action we still didn’t see a strong enough movement to trigger …