Author Archives: Trade Advantage

Resistance: 1.0542 strong / 1.0584 moderate / 1.0624 minor Support: 1.0502 moderate / 1.0460 minor / 1.0419 minor We have a Morning Star (Doji) in AUDUSD Hourly charts suggesting a possible bounce in prices.

Resistance: 1.3144 moderate / 1.3188 minor / 1.3238 minor Support: 1.3094 strong / 1.3050 moderate / 1.3000 minor EURUSD has a high credibility bullish pattern Three Inside Up in 4-Hour charts. With prices just above a strong support 1.3094, the Pivot Point, aggressive buys may be taken with a stop loss just under the said price, or below the pattern low whichever is lower. Our price target will be 1.3144 break of which open us to a run for 1.3188 and a possible uptrend. For pattern

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EURUSD Three Inside Up 4-Hour Chart

Market Review It has not been too difficult to have a high performing strategy this week when it comes to the S&P 500. For four days in a row we have looked to buy dips in the S&P, predominantly using pivot levels for an entry. Three out of four of these days have seen our profit targets reached, only on Wednesday was our entry too conservative not to be filled. Yesterday was the highest performer, as we adjusted our entry closer to the market to come in at 1580.75; if we had used the

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The EURUSD is a little harder to call today

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Bund (Jun13) Futures

Review We expect a quiet end to the week without major intraday fluctuations. Focus will once again be on whether USDJPY will manage to breach 100 and whether SP 500 will continue to go from one all-time high to the next. Hence, we are once again in for a day with rising risk appetite and with EURUSD and the EM currencies much-coveted. Cyprus: Over the past week the EU has realised that Cyprus’ financial need is bigger than initially assumed – now EUR 23bn compared to EUR 17bn previously.

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Place a BUY order for NOKSEK

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Daily Forecast – 12 April 2013 Eurostoxx June contract EuroStoxx beat 2603/07 to reach 2622. We backed away from here & if we hold below here today look for good support at 2593. A break of 2589 however risks continued weakness to 2576 & below here we find good support again at 2561/58. Failure here however could see us down at 2547. Shorts on a revisit to 2622 need a stop above 2630 for 2651. This is strong resistance & we should fail here but we need stops above 2666.

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Eurostoxx, Dax , FTSE 100, E-Mini S&P, EURUSD, XAUUSD Spot Gold

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Market Review Looking at the charts now it is hard to believe we were looking for an entry long yesterday of 1559.00, when we now trade at 1583.00. Unfortunately, this entry was not filled as equities never looked back after a strong EU open, a stronger morning session and a strong US open. The move higher yesterday was expected, yet still it was impressive to see how the momentum gained to create such a firm trend higher. Excluding Gold, which saw a sharp move lower, equities moved in

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A key level to look out for will clearly be 1586.75 in the S&P 500

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EUROSTOXX 50 (Jun13) Futures

DAILY USD/CAD OUTLOOK – 1.0142 11 Apr 2013 06:52GMT Usd’s breach of Mon’s 1.0156 low to 1.0134 Tue suggests recovery fm last Thur’s 1.0103 low has end ed at 1.0236 (Fri), below 1.0125, 1.0103 again. Sell on recovery for this move n only abv 1.0236 wud abort n risk further gain twd 1.0265. STRATEGY : Sell at 1.0180 OBJECTIVE : 1.011 STOP-LOSS : 1.0216 RES : 1.0215/1.0236/1.0265 SUP : 1.0125/1.0103/1.0057

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Forex Market Daily Outlook on Minors USD/CAD : April 11, 2013

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Resistance: 1.0523 strong / 1.0571 moderate / 1.0600 minor Support: 1.0494 moderate / 1.0445 minor / 1.0416 minor AUDUSD has a bearish bias though Hourly charts has formed a bullish reversal pattern Piercing Line. With a strong resistance at 1.0523, the Pivot Point, just ahead of the pattern the preferred course of action is to wait for a push past 1.0523 before buying. Immediate target is 1.0571 then on to 1.0600. Stops should be placed below the patterns low.

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AUDUSD Piercing Line Hourly Chart

Resistance: 1567.36 strong / 1579.13 moderate / 1600.28 minor Support: 1546.21 moderate / 1534.45 minor / 1513.29 minor The Hourly XAUUSD chart is in a bear market with a medium credibility High Wave Doji (Bull) suggesting we look for a turn-around. Consider buys off the immediate support 1546.21, or on a bullish confirmation. A stop loss should be placed just below 1546.21 while the immediate target is 1567.36. A close above 1567.36 will have us looking for a rally to 1579.13.

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XAUUSD High Wave Doji (Bull) Hourly Chart

Market Review Yesterday we againapproachedthe S&P 500 with a buy the dip strategy, at a technical level of support and again this worked well. We reached within three ticks of the Pivot level support at 14:30 which would have allowed entry, before pushing back towards the morning value area finding resistance at 1561.00. European equities started the session much weaker than their US counterparts as the divergence in economic fortunes between the two regions continued to widen. This

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Equities have taken a dip lower on this news

Review China: Exports rose by 10% and imports rose by 14.1%. It was a surprise to the market that imports were so strong, as market expectations were 6%. This offers increased confidence that domestic demand and thus the upturn are on the right track. Growth in China for Q1 looks reasonable, which may offer a rebound in commodities and the risk appetite in general. Fitch downgrades rating of long-term debt from AA- to A+ Slovenia: After the agreement about a rescue package to Cyprus we have

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Focus on PLN and TRY

Review China: Exports rose by 10% and imports rose by 14.1%. It was a surprise to the market that imports were so strong, as market expectations were 6%. This offers increased confidence that domestic demand and thus the upturn are on the right track. Growth in China for Q1 looks reasonable, which may offer a rebound in commodities and the risk appetite in general. Fitch downgrades rating of long-term debt from AA- to A+ Slovenia: After the agreement about a rescue package to Cyprus we have

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Focus on PLN and TRY