Author Archives: Trade Advantage

Resistance: 1.0284 moderate/1.0304 minor/1.0331 minor Support: 1.0257 strong/1.0237 moderate/1.0210 minor USDCAD is generally bullish with 4-Hour Dragonfly Doji (Bear) occurring near a strong support level at 1.0257, the Pivot Point. With the pivot directly beneath us a close under 1.0257 has to be seen before jumping short. The immediate object will be 1.0237 break of which suggest you have a tanking market with 1.0210 as its target. Stops should be placed above the Pivot Point or

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USDCAD Dragonfly Doji (Bear) 4-Hour Chart

1minute with ForexSurvivor

1minute with ForexSurvivor

Market Review Yesterday saw stocks drift slowly higher in the firsthalfof the day before some slightly worse than expected US economic data along with some disappointing corporate news sent the S&P lower at the US cash open. By the end of the session at test of the very important 1530 level finally brought to an end the sell off. Our strategy for the S&P, Crude and T-Notes suffered from our incorrect call that the morning’s mild relief rally would continue. Our EURUSD strategy however

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The irshare price is down over 4% in pre-market

Market Review Yesterday saw stocks drift slowly higher in the firsthalfof the day before some slightly worse than expected US economic data along with some disappointing corporate news sent the S&P lower at the US cash open. By the end of the session at test of the very important 1530 level finally brought to an end the sell off. Our strategy for the S&P, Crude and T-Notes suffered from our incorrect call that the morning’s mild relief rally would continue. Our EURUSD strategy however

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The irshare price is down over 4% in pre-market

Resistance: 0.8452 moderate / 0.8494 minor / 0.8519 minor Support: 0.8427 strong / 0.8385 moderate / 0.8360 minor NZDUSD is generally bullish with the Bearish Harami occurring near a strong support level at 0.8427, the Pivot Point. As such it would be best to consider shorting only if we have a close below 0.8427 with a stop loss above the candlestick patterns high. Price target for any subsequent sell-off will be at 0.8385, possibly on to 0.8360 if the former gives way.

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NZDUSD Bearish Harami Hourly Char

Resistance: 0.8452 moderate / 0.8494 minor / 0.8519 minor Support: 0.8427 strong / 0.8385 moderate / 0.8360 minor NZDUSD is generally bullish with the Bearish Harami occurring near a strong support level at 0.8427, the Pivot Point. As such it would be best to consider shorting only if we have a close below 0.8427 with a stop loss above the candlestick patterns high. Price target for any subsequent sell-off will be at 0.8385, possibly on to 0.8360 if the former gives way.

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NZDUSD Bearish Harami Hourly Char

Review Sweden: Riksbanken was dramatically “softer” than expected. As we pointed out yesterday (read more here) the risk involved in SEK was/is largest to the downside. One factor which we did not mention yesterday was the level of the “surprise index” which is currently close to historical top levels. Other things being equal, this indicates that the sentiment around SEK is highly positive and that disappointments are very likely and will get a more than usually negative reception. This was

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The Riksbanken depreciates SEK – we believe an additional depreciation is most likely

Market Review Yesterday’s session again saw some large scale movement across the asset classes. The highlights being the Dax’s 250 point capitulation following a twitter rumour that Germany are to see their credit rating downgraded. However, we felt the best trading opportunity came after ECB’s Weidmann made perhaps the most ‘dovish’ comment of his career where he indicated that the ECB may cut rates if economic data warrants it. The immediate market reaction was lethargic giving plenty of

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The Bund broke to new highs in a 35 tick move

Daily Forecast – 18 April 2013 FTSE 100 June contract FTSE tested 6290/00 & hit sellers but managed to hold above the April low at 6166/59. Today the 100 day MA is at 6175, same as yesterday’s low so longs here need a stop below 6159 lows for 6141 then 6107/00. Look for a bounce from here but use stops below 6085 for 6065/60. Resistance at 6227 could hold a rally but above 6241 look for 6269. We should meet sellers here but a push higher targets 6290/95, which held yesterday & should

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FTSE 100, Bund , Dax , Eurostoxx

Daily Forecast – 18 April 2013 EURUSD EURUSD failed to reach 1.3228 & tumbled to our target of 1.3028. We bought here with stops below 1.2975 & this is working so far but we need to take quick profits as a break lower looks possible today. Resistance at 1.3055/60 then 1.3094 which is seen should cap. However a push above 1.3120 could allow another test of 1.3190/00 highs. Try shorts here, adding up to 1.3230 with stops above 1.3255. A break of yesterday’s low at 1.3002 does look

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EURUSD, E-Mini Dow Jones, E-Mini S&P

DAILY GBP/JPY CROSS OUTLOOK – 149.50 18 Apr 2013 07:05GMT Despite y’day’s recovery fm 148.13, intra-day retreat fm 150.06 suggests another fall to 148.13 wud be seen but break is needed to yield 147.66. Trade fm short side for this move n only abv 151.16 wud signal decline fm 153.85 has ended, 151.74. STRATEGY : Short at 150.00 POSITION : Short at 150.00 OBJECTIVE : 148.50 STOP-LOSS : 150.10 RES : 150.06/151.16/151.74 SUP : 148.13/147.66/146.47

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DAILY CROSS OUTLOOK : GBP/JPY – April 18, 2013

1minute with ForexSurvivor Latest impact: EURUSD & USDCHF Towards BreakEven Market runs ping-pong pattern, i.e. what splashes up is intersected and what goes down is U-turned. This pattern took a print on the EURUSD & USDCHF of YDY wire. The close was triggered almost exactly at the level mentioned (revise YDY wire). We are keeping the trades on since closings coincided with the stops exact while we look for closing above or below. In parallel, we are sliding outwards the stops in

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EURUSD & USDCHF Towards BreakEven

Resistance: 1.3069 moderate / 1.3135 strong / 1.3243 moderate Support: 1.2961 minor / 1.2895 minor The Three Outside Down in 4-Hour charts is a confirmation of the overall bearish trend for EURUSD. With moderate resistance at 1.3069 consider shorts at market given the high credibility bearish pattern with a stop loss above it. Alternatively stops could be placed above the pattern high. Immediate objective is 1.2961, break of which opens us to a sell-off to 1.2895. For pattern explanation and

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EURUSD Three Outside Down 4-Hour Chart