Author Archives: Trade Advantage

Greece and Fiscal Cliff negotiations are lurking in the wings

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Obama victory results in short-term positive markets – Greece and Fiscal Cliff negotiatio ns are lurking in the wings Review: Obama won the presidential election fairly convincingly and the Senate is controlled by the Democrats. Fully as expected, the House of Representatives is in Republican hands. The initial reaction in the market was that USD fell, and gold and other commodities increased (expectations of a continued monetary policy) and equities fell slightly. Today’s chart illustrates

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Greece and Fiscal Cliff negotiations are lurking in the wings

The Eurostoxx opened higher yesterday

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EUROSTOXX 50 (Dec 12) INTRADAY Review The Eurostoxx opened higher yesterday and drifted lower into Monday’s accumulation. Despite disappointing macroeconomic data from Germany and lacklustre services PMI data from EU member states, the index saw buying momentum coming in in early European trade. The bid tone brought the price to test last Friday’s afternoon resistance after the European close at 2,546 and saw strong rejection of the level. The index closed in the vicinity of the highs,

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The Eurostoxx opened higher yesterday

CH: Consumer Price Index (MoM): 0.100 %

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Date (GMT) Event Cons. Actual Previous Nov 7 08:15 Consumer Price Index (MoM) 0.300 % 0.100 % 0.300 % Read the official report at Swiss Statistics News Forex: USD/CHF recovers 0.9400 after Swiss data (FXstreet.com) Wed, Nov 7 2012, 09:11 GMT Switzerland: CPI rises less than expected in October (FXstreet.com) Wed, Nov 7 2012, 08:23 GMT Switzerland Consumer Price Index (MoM) increases 0.1% in Oct and (YoY) decreases 0.2% (FXstreet.com) Wed, Nov 7 2012, 08:16 GMT

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CH: Consumer Price Index (MoM): 0.100 %

ES: Industrial Output Cal Adjusted (YoY): -7.000 %

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Date (GMT) Event Cons. Actual Previous Nov 7 08:00 Industrial Output Cal Adjusted (YoY) -3.600 % -7.000 % -2.500 % Read the official report at National Institute of Statistics News Forex: EUR/USD dipped to 1.2850 on Spanish data (FXstreet.com) Wed, Nov 7 2012, 08:20 GMT Spain: Industrial Output Cal Adjusted (YoY) (Sep): -7% (FXstreet.com) Wed, Nov 7 2012, 08:02 GMT

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ES: Industrial Output Cal Adjusted (YoY): -7.000 %

CH: Foreign Currency Reserves: 424.400

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Date (GMT) Event Cons. Actual Previous Nov 7 08:00 Foreign Currency Reserves 424.400 B 429.500 B Read the official report at Swiss National Bank News Switzerland: Foreign Currency Reserves narrow to 424.4B in October (FXstreet.com) Wed, Nov 7 2012, 08:12 GMT Switzerland Foreign Currency Reserves decreases to 424.4B in Oct from 429.5B (Sep) (FXstreet.com) Wed, Nov 7 2012, 08:01 GMT

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CH: Foreign Currency Reserves: 424.400

USDCHF Bullish Harami Hourly Chart

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Resistance: 0.9413 moderate/0.9434 strong/0.9449 moderate Support: 0.9398 minor/0.9376 minor We have a low level bullish reversal pattern in Hourly USDCHF charts, Bullish Harami. Look for a possible technical correction. Consider buys if the pattern is confirmned with stops ideally under 0.9398. The immediate objective will be a push for 0.9413 break of which opens us to a reversal for a move to the 0.9434, the daily Pivot Point. Learn more about the chart patterns and how to recognize them in

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USDCHF Bullish Harami Hourly Chart