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Sunday, June 28, 2015

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.


Thursday, June 25, 2015

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.


Wednesday, June 24, 2015

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.


Sunday, June 21, 2015

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.


Thursday, June 18, 2015

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.


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.


Monday, June 15, 2015

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.


Thursday, June 11, 2015

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.


Tuesday, June 9, 2015

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.


Sunday, June 7, 2015

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.


Friday, June 5, 2015

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.


Tuesday, June 2, 2015

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.


Monday, June 1, 2015

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.