AUDNZD Sell Recommendation July 16th 2015

Currency Pair: AUDNZD

Timeframe: Hourly Chart (H4)
Recommendation: Sell AUDNZD @ 1.1290
Take Profit @ 1.1000
Stop Loss @ 1.1400

The AUDNZD has rallied after a sharp sell-off took this currency pair to a lower low. The current rally is stuck at its resistance level and should this be the end of it a lower high would be confirmed which means the next move will be to the downside and likely set a new lower low.

I expect volatile trade ahead, but will use this as a good entry opportunity for my short positions. I expect a sell-off on the back of profit taking, but I am prepared to hold this trade through the end of this year if necessary.

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NZDJPY Buy Recommendation July 3rd 2015

Currency Pair: NZDJPY
Timeframe: Hourly Chart (H4)
Recommendation: Buy NZDJPY @ 82.60
Take Profit @ 89.00
Stop Loss @ 81.10

The NZDJPY has sold-off nicely and everyone who was short in this currency pair, congratulations on some deserved pips. I think we will see a volatile period ahead of us where this currency pair will try to carve out some solid support before we will witness a sharp reversal.

I am positioning myself for a short-covering rally as I do think the sell-off was overstretched and left the NZDJPY in extreme oversold territory. We could see some choppy, sideways action before forex traders will realize floating trading profits.

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EURUSD Buy Recommendation June 29th 2015

Currency Pair: EURUSD
Timeframe: Hourly Chart (H4)
Recommendation: Buy EURUSD @ 1.1015
Take Profit @ 1.1430
Stop Loss @ 1.0900

The EURUSD has opened the Asian trading session with a gap lower as Greece is opting to hold a referendum and as the Eurogroup held one meeting without the Greek finance minister in what may have been one of the darkest days in Eurozone democracy.

I took the sharp drop as a great entry opportunity for my long position. I think we will see a lot more volatility ahead of us and I will look to possibly amend my stop loss and instead add to my longs. I think the gap we see in today's H4 chart will be closed as more details about the ongoing Greek crisis emerge.

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EURGBP Buy Recommendation June 26th 2015

Currency Pair: EURGBP
Timeframe: Hourly Chart (H4)
Recommendation: Buy EURGBP @ 0.7100
Take Profit @ 0.7385
Stop Loss @ 0.7000

The EURGBP has corrected, but I think the sell-off is basically done. Sure, the Grexit issues may plague this currency pair and we could see a sharp increase in volatility especially if no deal will be reached before markets open on Tuesday, but the risk/reward ration on this trade is worth it to me.

Those who follow this trade should set aside enough capital for a second entry level just in case we will hit some rough trading over the next 72 hours which will open up trading opportunities. Overall I think the EURGBP will enjoy a short-covering rally which will take this currency pair back into resistance.

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Silver Buy Recommendation June 25th 2015

Commodity: Silver
Timeframe: Hourly Chart (H4)
Recommendation: Buy Silver @ 15.85
Take Profit @ 17.15
Stop Loss @ 15.30

Silver has continued to drop and I adjusted the stop loss on my previous Silver Buy Recommendation June 1st 2015 from 16.30 to 15.30. The reason for this was that I believe we have seen the worst of the selling and I added to that long position with another buy at 15.85.

I think there is plenty of upside in this precious metal and will seek to add to my Silver holdings should we see another leg lower. I am eyeing the 15.35 as another buy entry level and could move my SL again depending on financial developments.

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EURNZD Sell Recommendation June 22nd 2015

Currency Pair: EURNZD

Timeframe: Hourly Chart (H4)
Recommendation: Sell EURNZD @ 1.6450
Take Profit @ 1.5000
Stop Loss @ 1.6700

The EURNZD has rallied on the back of New Zealand weakness, but given the uncertainty in the Eurozone I think this currency pair provides a great trade on the short side. Just keep in mind that the EURNZD may be the best carry trade currency pair right now given the big disconnect in interest rates.

The total downside potential is roughly 1,500 pips, but I will protect my profits with a stop loss before we get to that level. The move lower could be short, but very powerful especially after a breakdown below the low end of its resistance level.

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Trading Overview May 1st 2015 - May 31st 2015: 380 Pips Earned

I have completed my overview of forex trades which I recommended between May 1st and May 31st. I had a total of ten trading recommendations which I published 100% free of charge and I always update you all on every trade regardless if I earned money on it or if I lost money on it. In my previous trading update I showed you how I earned 14,085 pips so far in 2015 on 37 recommended trades.

In 2015  my aim is to deliver 20% more pips in 2015 then I have in 2014 where I delivered 13,810 pips from 109 trading recommendations. Feel free to subscribe to my blog and follow me at TheLastBear!

Here is my forex trading overview for trades between May 1st and May 31st 2015:

1. May 5th 2015 - CADJPY Short @ 99.10, Exit @ 98.35 on May 7th 2015; Profit of 75 pips
2. May 7th 2015 - EURUSD Short @ 1.1340, Exit @ 1.1140 on May 11th 2015; Profit of 200 pips
3. May 11th 2015 - AUDNZD Short @ 1.0700, Exit @ 1.0600 on May 28th 2015; Profit of 100 pips
4. May 13th 2015 - EURNZD Short @ 1.5230, Exit @ 1.4980 on May 26th 2015; Profit of 250 pips
5. May 15th 2015 - USDCHF Long @ 0.9130, Exit @ 0.9530 on May 27th 2015; Profit of 400 pips
6. May 18th 2015 - Silver Short @ 17.70, Exit @ 16.30 on June 4th 2015; Profit of 140 Pips
7. May 20th 2015 - AUDJPY Long @ 95.75, Exit @ 95.00 on May 22nd 2015; Loss of 75 Pips
8. May 22nd 2015 - Gold Long @ 1,207.50, Exit @ 1,201.00 on May 26th 2015; Loss of 650 Pips
9. May 27th 2015 - GBPJPY Short @ 189.400, Exit @ 192.000 on June 12th 2015; Loss of 260 Pips
10. May 29th 2015 - EURCHF Long @ 1.0320, Exit @ 1.0520 on June 3rd 2015; Profit of 200 Pips

Total Profits: 380 pips, 10 Trades, 7 Profitable Trades, 3 Losses, 0 Open Trades

My total profits for 2015 total 14,465 pips on 47 recommended forex trades. I operate this forex portfolio over at PaxForex and their tight spreads and execution speed allow me to earn more each time I trade.

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GBPCAD Sell Recommendation June 18th 2015

Currency Pair: GBPCAD

Timeframe: Hourly Chart (H4)
Recommendation: Sell GBPCAD @ 1.9350
Take Profit @ 1.8850
Stop Loss @ 1.9600

The GBPCAD has rallied sharply especially after especially after the release of the Bank of England minutes, but I think we could see a repeat of what happened in 2014. Economic data out of the UK could softened this summer and therefore the risk remains for a correction in this currency pair.

I am looking for a pullback of 500 pips which would be healthy and in my opinion necessary if the GBPCAD is to trade above the crucial 2.0000 mark. I also think that the Canadian Dollar is extremely oversold and ripe for a correction of its own.

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EURJPY Buy Recommendation June 15th 2015

Currency Pair: EURJPY
Timeframe: Hourly Chart (H1)
Recommendation: Buy EURJPY @ 138.800
Take Profit @ 140.800
Stop Loss @ 138.000

The EURJPY is trading around its support level with brief spikes above and below it after the Euro weakened over the past few trading sessions which dropped this currency pair to its current support level. I expect the volatile trade above and below support to continue until the next move can unfold.

I  expect a short-covering rally after a breakout above support and took my long positions in the EURJPY a few moments ago. Despite the volatility, an ascending support level is visible below its support level which gives us a solid bullish trading signal.

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GBPAUD Sell Recommendation June 12th 2015

Currency Pair: GBPAUD
Timeframe: Hourly Chart (H4)
Recommendation: Sell GBPAUD @ 2.0050
Take Profit @ 1.9450
Stop Loss @ 2.0250

The GBPAUD saw an increase in volatile trade as it is testing its resistance level. Two false breakouts were reversed and this currency pair appears to be on the verge of a third and final breakout attempt. I do not think it will succeed and the final reversal is most likely to lead to a bigger sell-off.

I have positioned myself for a sell-off as I expected forex traders to take profits anywhere between 2.0000 and 2.0200. I think we will see the GBPAUD trade closer to 1.9500 by the end of the summer as commodity prices will rebound slightly and the Bank of England remains on the sidelines.

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AUDCAD Buy Recommendation June 10th 2015

Currency Pair: AUDCAD
Timeframe: Hourly Chart (H1)
Recommendation: Buy AUCAD @ 0.9450
Take Profit @ 0.9710
Stop Loss @ 0.9350

The AUDCAD corrected as I recommended back on June 3rd (AUDCAD Sell Recommendation June 3rd 2015) and is now trading inside of its support zone. I think the sell-off is complete and that we will see a volatile trade to the upside over the course of this month.

I  went long as I expect a short-covering rally in this currency pair on the back of Aussie strength rather than Loonie weakness. Both currencies enjoyed a decent move, but I think commodity prices will recover and that the Australian Dollar will benefit from it more than the Canadian Dollar.

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Gold Buy Recommendation June 8th 2015

Commodity: Gold
Timeframe: Hourly Chart (H4)
Recommendation: Buy Gold @ 1,173.50
Take Profit @ 1,230.00
Stop Loss @ 1,150.00

Gold has dropped sharply as optimism about the health of the US economy is ill placed. Last Friday's NFP report, which came in better than expected, did little to change that. US consumers are not spending and the trend continues to worsen. Watch out for a potential 'official' recession as the Q2 GDP report will roll in after this month.

I have added to my long position in Gold in order to hedge my forex portfolio and think there is plenty of upside in this commodity throughout 2015. A breakout above its current support level is likely to result in a short-covering rally which you do not want to miss out on.

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AUDCHF Buy Recommendation June 5th 2015

Currency Pair: AUDCHF
Timeframe: Hourly Chart (H1)
Recommendation: Buy AUDCHF @ 0.7170
Take Profit @ 0.7300
Stop Loss @ 0.7120

The AUDCHF has sold off as the Swiss Franc rallied, but I think the tide is turning and that we will see a reversal. With today's NFP report on the horizon I will stay clear of the non-sense surrounding the aftermath of the release and stick technical trades.

For now it looks like the support level will hold and the AUDCHF may be in for a short-covering rally which can propel this currency pair back into resistance. Overall I think we will see a strong er AUDCHF this month which is why I took my long position a few moments ago.

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AUDCAD Sell Recommendation June 3rd 2015

Currency Pair: AUDCAD
Timeframe: Hourly Chart (H1)
Recommendation: Sell AUDCAD @ 0.9660
Take Profit @ 0.9500
Stop Loss @ 0.9710

The AUDCAD enjoyed a sharp rally on the back of strength in the Australian currency, but I think forex traders got a bit ahead of themselves when it comes to their Aussie love and therefore expect a price action reversal back down to support.

Commodity prices remain depressed and China continues to struggle with their economy which present two big headwinds for the Aussie. Sure, the Canadian Dollar is exposed to the same but the recent rally is now vulnerable for some profit taking and therefore I favor a weaker AUDCAD going forward.

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Silver Buy Recommendation June 1st 2015

Commodity: Silver
Timeframe: Hourly Chart (H1)
Recommendation: Buy Silver @ 16.60
Take Profit @ 17.15
Stop Loss @ 16.30

The global economy is slowing down and Silver has corrected down to a decent support level. I think the technical scenario, which in my opinion supports higher prices in precious metals, together with the fundamental outlook over the summer makes a bullish case for Silver and I have added it to my portfolio.

Those of you who have followed my Silver Sell Recommendation May 18th 2015 were able to profit from the sell-off together with me and those of you have missed it have a chance now to profit from the rally which I expect.

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EURCHF Buy Recommendation May 29th 2015

Currency Pair: EURCHF
Timeframe: Hourly Chart (H1)
Recommendation: Buy USDCHF @ 1.0320
Take Profit @ 1.0440
Stop Loss @ 1.0250

The EURCHF has drifted lower and recently grinding around its support level. I think we will see a move higher, partially due to fundamental data which will support a stronger Euro and partially do to some profit taking which will result in a short-covering rally.

We may test the bottom of its support level before a rally can unfold. Forex traders may want to wait for a breakout above its most recent intra-day high for a confirmation of a trend reversal, personally I went long already.

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GBPJPY Sell Recommendation May 27th 2015

Currency Pair: GBPJPY
Timeframe: Hourly Chart (H4)
Recommendation: Sell GBPJPY @ 189.400
Take Profit @ 181.400
Stop Loss @ 192.000

The release of the minutes from the last Bank of Japan meeting did damage to the Japanese Yen despite a cautionary tone. This suggests to me that upward potential in this currency pair is very limited and that we could be on the verge of a price action reversal which is why I have taken a short position in the GBPJPY.

I think we could see some sideways trading inside of its resistance level, but that the risk is definitely to the downside. Should we breach 190.000 I will add to my short position. I think the sell-off will come on the back of weakness in the British Pound rather than strength in the Japanese Yen.

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Trading Overview April 1st 2015 - April 30th 2015: 6,700 Pips Earned

I have completed my overview of forex trades which I recommended between April 1st and April 30th. I had a total of seven trading recommendations which I published 100% free of charge and I always update you all on every trade regardless if I earned money on it or if I lost money on it. In my previous trading update I showed you how I earned 7,385 pips so far in 2015 on 30 recommended trades.

In 2015  my aim is to deliver 20% more pips in 2015 then I have in 2014 where I delivered 13,810 pips from 109 trading recommendations. Feel free to subscribe to my blog and follow me at TheLastBear!

Here is my forex trading overview for trades between April 1st and April 30th 2015:

1. April 10th 2015 - GBPUSD Long @ 1.4715, Exit @ 1.5415 on April 30th 2015; Profit of 700 pips
2. April 14th 2015 - GBPCAD Long @ 1.8450, Exit @ 1.8600 on April 30th 2015; Profit of 150 pips
3. April 16th 2015 - USDJPY Long @ 119.300, Exit @ 121.300 on May 21st 2015; Profit of 200 pips
4. April 21st 2015 - AUDNZD Long @ 1.0050, Exit @ 1.0800 on May 13th 2015; Profit of 750 pips
5. April 22nd 2015 - EURCAD Long @ 1.3160, Exit @ 1.3760 on May 18th 2015; Profit of 600 pips
6. April 23rd 2015 - Gold Long @ 1,188.50, Exit @ 1,128.50 on May 18th 2015; Profit of 4,000 Pips
7. April 30th 2015 - GBPCAD Sell @ 1.8580, Exit @ 1.8280 on May 5th 2015; Profit of 300 Pips

Total Profits: 6,700 pips, 7 Trades, 7 Profitable Trades, 0 Losses, 0 Open Trades

My total profits for 2015 total 14,085 pips on 37 recommended forex trades. I operate this forex portfolio over at PaxForex and their tight spreads and execution speed allow me to earn more each time I trade.

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Gold Buy Recommendation May 22nd 2015

Commodity: Gold
Timeframe: Hourly Chart (H1)
Recommendation: Buy Gold @ 1,207.50
Take Profit @ 1,230.00
Stop Loss @ 1,201.00

Given the economic reports set for release today and with the weekend ahead of us plus the two speeches by central bank officials on top of what the charts are showing us I went long Gold and plan on keeping it over the weekend as I think we will see a stronger price by the time markets close for the weekend.

Be advised that volatility may be elevated and that we may see a move to the downside and a test of support around the 1,203.65 before a breakout can lead to a short-covering rally and some good upside.

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AUDJPY Buy Recommendation May 20th 2015

Currency Pair: AUDJPY
Timeframe: Hourly Chart (H1)
Recommendation: Buy AUDJPY @ 95.75
Take Profit @ 97.25
Stop Loss @ 95.00

The better than expected GDP report out of Japan failed to rally the Japanese Yen which is why I took a long position in the AUDJPY today. This currency pair is trading inside of its support level after a nice sell-off took it there. I was waiting for the GDP report to be released before placing my buy order.

I think we can see a rally of roughly 150 pips which will take us back to resistance from where I will take another look. Upward momentum may be strong enough for a breakout and continuation, but plenty will depend on fundamental factors.

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Silver Sell Recommendation May 18th 2015

Commodity: Silver
Timeframe: Hourly Chart (H1)
Recommendation: Sell Silver @ 17.70
Take Profit @ 16.30
Stop Loss @ 18.50

I have hedged my forex portfolio with a short position in Silver. I expect this commodity to fall victim to a profit taking sell-off after fundamental data caused a rally. The factors which impacted Silver in a bullish fashion are now losing its impact and I expected a price action reversal back down to support.

We may see a false breakout above its resistance level which could extend up to the 18.00 mark from where I may seek to add to my short positions as the upside potential is rather limited while the downside potential remains attractive.

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USDCHF Buy Recommendation May 15th 2015

Currency Pair: USDCHF
Timeframe: Hourly Chart (H1)
Recommendation: Buy USDCHF @ 0.9130
Take Profit @ 0.9350
Stop Loss @ 0.9000

I have taken long positions in the USDCHF this morning as I think we will see a US Dollar rallying into the weekend. One part of the rally will come from economic reports released during the US morning session while the other part will come from some profit taking before the weekend.

The US Dollar could be in for some choppy trading sessions, but I do think we will see an upward bias until the downtrend can continue. Currently plenty of currencies are facing headwinds and an increase in volatility should be accounted for.

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EURNZD Sell Recommendation May 13th 2015

Currency Pair: EURNZD
Timeframe: Hourly Chart (H4)
Recommendation: Sell EURNZD @ 1.5230
Take Profit @ 1.4200
Stop Loss @ 1.5500

Yesterday I sold the AUDNZD and I added to my position after it rallied to 1.0840. I will short it again at 1.1000. Today I am taking a short position in the EURNZD as I think forex traders are best advised to lock in some of the profits after a rally which spanned roughly 1,500 pips.

Volatility could be at elevated levels as upward momentum is strong, but the recent failure to breakout above its resistance level has started to shift momentum and a breakdown below it should set this currency pair on course for a bigger reversal.

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AUDNZD Sell Recommendation May 11th 2015

Currency Pair: AUDNZD
Timeframe: Hourly Chart (H4)
Recommendation: Sell AUDNZD @ 1.0700
Take Profit @ 1.0100
Stop Loss @ 1.1000

The rally in the AUDNZD was not only expected, but very profitable on top of that and anyone who followed my AUDNZD Buy Recommendation from April 21st 2015 made at least 250 pips unless you adjusted your stop loss orders accordingly. I closed this trade for a profit of 600 pips and think it is time to look the other way.

I think we can see a nice reversal in this currency pair and am at least targeting 200 pips before I will take another look. The downside potential is 600 pips if the rally will see a full reversal, but several factors would need to come together for that one.

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EURUSD Sell Recommendation May 7th 2015

Currency Pair: EURUSD
Timeframe: Hourly Chart (H1)
Recommendation: Sell EURUSD @ 1.1340
Take Profit @ 1.1140
Stop Loss @ 1.1390

The rally in the EURUSD was very powerful and long-term I think it will continue, but I do expect some profit taking to occur which will drop this currency pair down to its support level. Forex traders may ope to lock in profits ahead of tomorrow's NFP report out of the US.

I am looking for roughly 200 pips, but the NFP report is a wildcard. Should I have more than 50 pips in floating profits prior to tomorrow's release I will exit this trade. Given the close proximity to an important release make this a higher risk trade.

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