Author Archives: Trade Advantage

Daily Forecast – 28 May 2013 EURUSD EURUSD resistance at 1.2955/65 but above here we could test the 200 day moving average at 1.3020. We should struggle here with a high for the day likely so we could exit longs & try shorts with stops above 1.3070. Immediate support is 1.2900/90 which could hold the downside as the short term & daily chart both look much more positive. However below here look for 1.2850/40. We should bounce from here but if we continue lower watch for a test of

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EURUSD, E-Mini Dow Jones, E-Mini S&P, FTSE 100, Eurostoxx , Dax

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AUDJPY (BUY put option): We recommend that investors sell the short-term ‘insurance’. The spot rate of AUDJPY has fallen by more than 4% since we launched the recommendation 10 days ago. Since mid-April, the cross rate has fallen by more than 8% and if we check the technical indicators, they indicate that AUDJPY is oversold in the short-term universe, and therefore risk/reward has now become too low. We recommend that investors sell back the option. Hence we close the recommendation with a

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Close AUDJPY option

Market Review Yesterday our S&P strategy performed perfectly, as following the mantra of ‘buy the dip‘, continued to reap rewards.

EURPLN (SELL): We recommend SELL with double stop/loss at 422.52. Yesterday, EURPLN rose briefly above 421. Hence, it peaked just above the trend line from July 2012. The daily close was at 420. Hence, EURPLN has made a technical turnaround signal if Friday’s trading closes below 419. We expect that EURPLN will be traded down towards 412-415 over the coming month. EURUSD (BUY): We recommend BUY with a double stop/loss at 127.29. Despite rising volatility in the FX and equity markets, EURUSD

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Rising volatility

1minute with ForexSurvivor

1minute with ForexSurvivor

Market Review Yesterday, Bernanke gave a master class on poor communication. At 15:00 the first comments to hit the wires related to the need for continued monetary easing given the vulnerability of the economy. Equities hit new highs and the USD fell sharply as traders started to adjust their expectations for any type of withdrawal in the short term. Then, at 15:30, Bernanke said that the withdrawal process may start within the next few meetings if the employment levels indicate it prudent to

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Yesterday, Bernanke gave a master class on poor communication

Review: The US: Fed chief Bernanke testified before Congress. Initially EURUSD rose considerably as Bernanke is concerned about unemployment and stated it would be inopportune to end the monthly purchases. Later on, Bernanke stated that if the good trend continues in the labour market, there is a chance that the phasing out of QE will begin in a couple of months. This was a surprising statement, which caused EURUSD to fall below 129 again. We think that the most important message of the speech

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EURNOK offers potential

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Market Review – 22/05/2013 23:02GMT Dollar rallies broadly on Bernanke’s hawkish comments The greenback surged against majority of its peers on Wednesday after Fed Chairman Ben Bernanke hinted at possibilities of the central bank slowing its bond purchases. Initially, dollar briefly dropped across the board after Bernanke said monetary stimulus is helping the U.S. economy recovery. Fed’s Bernanke testified on Capitol Hill and said ‘U.S. monetary policy providing significant benefits, premature

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Dollar rallies broadly on Bernanke’s hawkish comments : May 23, 2013

Daily Forecast – 22 May 2013 Natural Gas June contract Natural Gas broke 4.163 as we close in on our next target of 4.230/250. We are overbought short term so exit longs & try shorts here with stops above 4.275. A drift lower finds support at 4.163/133 & a low for the day possible but below here sees 4.097. If we continue lower look for good support at 4.078/063.

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Natural Gas, RBOB Gasoline, Gasoil

Market Review Yesterday’s session was very much business as usual for equity markets as they continued their grind higher. Volumes were fairly light in the morning due to a bank holiday in some European countries and the S&P drifted lower with very little news flow to influence price action. Our strategy took good advantage of this dip with our long entry providing the support that defined the low of the day before the medium term uptrend was extended to another all time high at 1670 and

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Fed’s Evans then spoke in the latter stages

Japan: Reuters has prepared an investigation concerning the desired level of USDJPY among Japanese businesses. The investigation shows that approx. 50% want a stabilisation of USDJPY around 100 and that only 15% want USDJPY to rise above 105 and as many as 29% of the businesses want USDJPY to be below 95 (= stronger JPY!). All in all, the investigation indicates that USDJPY is at a suitable level and confirms our view that USDJPY should go through a consolidation phase before a potential

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Buy EURUSD Sell EURPLN