Category in Trade Ideas

GBP/JPY intraday: More gains looking likely

GBP/JPY has breached recent daily highs at 169.15 and closed above there; USD/JPY has had an intraday pivot in recent sessions near 103.00 and the close above there makes a test of 103.70 increasingly likely; 1.6410 has been the level I’ve been watching in cable and the close above there makes further impulsive gains increasingly

Silver: Contrarian trade possibility

Despite comments from renowned Fed-watcher Hilsenrath that we may see some tapering sooner rather than later, Silver still managed to rally by 2.5%; I’ve heard some second-hand reports which put Silver shorts at quite severe levels heading into the holiday season; Trailing stops are reportedly large above $20.50. I haven’t been actively trading it recently

AUD: Still soft on the crosses to start the week

AUD/NZD is starting to spend a bit more time below 1.10 suggesting that more losses are possible; EUR/AUD is also consolidating above an important technical level at 1.5030 and more gains are favoured; AUD/JPY is trading sideways still and not following the lead from other JPY pairs; AUD/USD continually runs into solid selling interest during

GBP/JPY: Good risk-reward for the contrarian bears

Looking for extremely over-bought or over-sold conditions can be a very profitable exercise in the FX market. Of course there are plenty of false alarms but if you trade them properly, these signals can be very profitable. Even though I’m a medium term GBP bull, the short-term signals are looking increasingly bearish but as yet

AUD/USD: Trade data today and sentiment remains bearish

AUD/NZD traded to lows at 1.1002 last night as barrier protection held the first attempt; AUD/JPY has come off quite heavily but is still in a medium-term holding pattern above 90.00; EUR/AUD is making a strong daily close above previous highs at 1.5030; AUD/USD is still very heavy and selling rallies looks like the safest

Might be a good time to book some profits on EUR/AUD, GBP/NZD etc

Despite a big technical break yesterday, GBP/NZD failed to consolidate these gains and will close back near 2.0000; As mentioned below, EUR/USD is threatening to form a significant top near 1.3625 (see chart); AUD/USD has been trying to form an interim base near technical support at .9050/60. Some of these crosses have had really good

EUR/GBP: Stops triggered below .8290 in early interbank trading

I remember being on the receiving end of some dodgy GBP/DMK stops during early Monday morning trade over 25 years ago, and some things will never change. Some ‘brave heroes’ took advantage of non-existent liquidity to trigger stops in the EUR/GBP below .8290. I shouldn’t complain as it’s going my way, but the market really

AUD/USD: Tending toward a bullish bias intraday

Prime brokers reports suggest to me that the speculative market is largely short as they wait in anticipation of further selling of the AUD from the big real-money funds; Technical support/resistance levels are very clear at .9050/.9250; Plenty of risk events looming with the HSBC China manufacturing PMI today, the RBA tomorrow and the the