Author Archives: Trade Advantage

1minute with ForexSurvivor

Daily Forecast – 10 April 2013 EURUSD EURUSD saw a big rally from the double bottom at 1.2746 after we predicted an end to the 2 month down trend & we came to with in 12 pips of our 1.3115 target to exit longs & try shorts with a stop above 1.3140. We are over bought in the short term & a break higher therefore looks unlikely today but if seen would then target 1.3162, possibly 1.3228. A drift lower today finds support at 1.3030/20 but below here look for 1.2967 & a strong

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EURUSD, E-Mini S&P

Market Review Equities pulled lower initially yesterday and it appeared as though the poor Non Farms Data seen on Friday was beginning to play out in market sentiment. However, despite our bearish fundamental outlook we maintained a long entry in the S&P 500, having learned that as long as central bankers are in charge, and monetary policy remainsaggressivelysupportive, we were more likely to see equities supported. This type of execution can feel counter-intuitive but it

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Equities pulled lower initially yesterday

Review The EU: German industrial production rose by 0.5% in February against the estimate of 0.3%. On the other hand, the January figure was revised down by -0.6%. This shows that German industrial production got off to a bad start this year, but Jyske Bank expect continued positive growth in Q1, which will support the case of an increase in EURUSD over the coming period. Japan: USDJPY traded at 99.66, which is close to the psychologically important level at 100. Most likely we will see a

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NOKSEK closed with gain of 1.14 %. EURUSD continues to increase

Daily Forecast – 09 April 2013 Dax June contract Dax hovered just above 7653/46 support as we start to look over sold in the short term. We could hope for a bounce to 7715 with continued strength to target 7749/59. We may top out here today so we could take profit on any longs & try shorts with stops above 7775. We then look for a test of 7794 & possibly 7815/25 but it looks unlikely we can push any higher today at least. 7653/46 remains good support today & we could see a bounce

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Dax, Eurostoxx, Nikkei 225, Brent Crude

1minute with ForexSurvivor

Market Review On Friday unfortunately our short entry at 1552.75 was not filled before the S&P fell heavily on a risk off morning session, followed by a much worse than expected Non Farm Payrolls data. The figure came in at 88k versus 193k expected, although the unemployment rate came in slightly better at 7.6% versus 7.7% expected. The S&P 500 moved firmly lower to create a double bottom at 1533.25 before pushing higher in the late afternoon (GMT) to recover the majority of the move,

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On Friday unfortunately our short entry at 1552.75

FX Market Drivers: It seems that we are in for a week with little news The US: The job report offered a marked disappointment and USD fell. With +88,000 jobs, the job report in the US was a great disappointment (estimate: +190,000). It’s true that the figures for recent months were upgraded so the 3-month average is at +168,000, yet not enough to prevent a negative reaction in the equity market and in respect of USD. Employment is the Fed’s central ‘benchmark’ in respect of increasing/reducing

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It seems that we are in for a week with little news

1minute with ForexSurvivor

Daily Forecast – 05 April 2013 Natural Gas April contract Natural Gas tested resistance at 3.966 & managed to hold support at 3.886/860 as expected. We can try longs here again today & look for a bounce with the market now over sold in the short term. We need a stop below 3.833 for a test of the next support at 3.792. Resistance at 3.966 is our first obstacle on a bounce and we are just holding here for the last few hours. A break higher is possible today though for 3.991 and then a

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XAUUSD Spot Gold, Natural Gas, RBOB Gasoline

1minute with ForexSurvivor Latest impact:

Market Review It was an erratic session across most asset classes yesterday and in particular for the EURUSD which had a 200 pip range for the day. It was all about monetary policy as Japan rolled out the big guns at the same time that Fed’s Williams hinted at the Fed beginning a tapering off of QE3 as early as this summer. But it was the ECB press conference that generated the most extreme volatility.Draghipainted an on-going bleak picture from an economic perspective by stating that the 2012

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It was an erratic session across most asset classes yesterday

Daily Forecast – 05 April 2013 Eurostoxx June contract EuroStoxx failed just below 2611/12 resistance & we broke Wednesday’s low at 2567 to test the 2558/54 level again. We did hold our stop level below last Thursday’s low at 2551. However a break today targets 2536, possibly a retest of March lows at 2524/19 & the chance of a bounce. If we continue lower look for support at 2500/95 next & a bounce very possible but continued losses could then target 2477/72. Exit shorts & try

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Eurostoxx, E-Mini S&P, FTSE 100, Dax

Daily Forecast – 08 April 2013 FTSE China A50 April contract FTSE China A50 has hovered from 7875 up to 8085 this week. Watch for resistance at 8085/95 but a break above here could allow a test of 8226/33. We can try shorts here in expectation of a high for the day with a stop above 8280 for 8342. A break below 7875 today however keeps the 2 month down trend in tact and should see a test of 7813. This is good support & although we are not over sold we could still see a bounce here to- day

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FTSE China A50, Hang Seng CE Index, Hang Seng, USDJPY, Kospi, Nikkei 225, Topix