Author Archives: Trade Advantage

S&P 500 (Jun 13) INTRADAY Review Yesterday’s strategy just about worked in terms of enabling a long position from our entry point and the first profit being touched. But this resistance level that we used as first target, 1551.75, defined the high of the day at 14.20GMT and from there the market sold off in the biggest move of the day. The downside was more as a result of general lack lustre market activity with Apple underperforming and unlikely rumours that Moody’s are to downgrade the

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Crude had a nice bullish afternoon yesterday

Review: Quiet markets yesterday – expected to continue for the rest of the week. In line with the calendar of economic indicators, movements have been very small in the financial markets. In the FX market we need to look at currencies like HUF and MXN to see wide movements (MXN appreciation and HUF depreciation). Sweden:Inflation was more or less in line with expectations. Inflation rose by 0.5% (as expected). EURSEK strengthened yesterday to its strongest level against EUR since August 2012.

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Place a buy order for EURSEK

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Forecast for 13th March 2013 FTSE 100 March contract FTSE reached 6509 & pushed on towards the next target of 6529, so far only getting to 6524. A break above 6530 today could test the high for 2008 seen on the 4th Jan at 6547. Support today at 6478 once again & this is holding the pullback nicely. However below here look for 6465 then 6453/50 which should hold any weakness. If we cannot hold here look for firm support at 6431, possibly 6415/08 which should be a good buying

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FTSE 100, Dax

Resistance: 1.3072 moderate/1.3100 minor/1.3147 minor Support: 1.3026 strong/1.2998 moderate/1.2951 minor EURUSD is generally bullish though prices are just under a moderate resistance at 1.3072. With a mid level bullish candlestick pattern, Bullish Engulfing in 4-Hour charts, look for possible buys on a close above the said price. Immediate target is 1.3100 possibly 1.3147 on a break of the latter. A stop loss should be placed below the pattern low or alternatively just under 1.3026.

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EURUSD Bullish Engulfing 4-Hour Chart

Resistance: 1.3072 moderate/1.3100 minor/1.3147 minor Support: 1.3026 strong/1.2998 moderate/1.2951 minor EURUSD is generally bullish though prices are just under a moderate resistance at 1.3072. With a mid level bullish candlestick pattern, Bullish Engulfing in 4-Hour charts, look for possible buys on a close above the said price. Immediate target is 1.3100 possibly 1.3147 on a break of the latter. A stop loss should be placed below the pattern low or alternatively just under 1.3026.

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EURUSD Bullish Engulfing 4-Hour Chart

S&P 500 (Jun 13) INTRADAY Review It was a tight session prior to the US cash open with the index chopping around the midpoint of Friday’s Payrolls range but as soon as the US session got going the upwards grind kicked back in and the S&P drifted up through Friday’s high to continue its relentless climb to five year highs. News flow was non-existent and this meant the volume in yesterday’s session overall was the lowest of the whole year (not including bank holidays). Our long entry was

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Post NFP Monday showed disappointing movement

S&P 500 (Jun 13) INTRADAY Review It was a tight session prior to the US cash open with the index chopping around the midpoint of Friday’s Payrolls range but as soon as the US session got going the upwards grind kicked back in and the S&P drifted up through Friday’s high to continue its relentless climb to five year highs. News flow was non-existent and this meant the volume in yesterday’s session overall was the lowest of the whole year (not including bank holidays). Our long entry was

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Post NFP Monday showed disappointing movement

Forecast for 12th March 2013 Eurostoxx March contract EuroStoxx held 2708/03 support nicely as we bottomed at 2705. A push through 2735 this week should test the years high so far at 2755. This is unlikely to be easy to beaten with the market now very overbought in the short term. Watch for a pullback from here but if we do break higher look for 2767 then 2783 with 2799 likely to be achieved before we hit selling pressure. Support at 2708/03 again today but below here 2693 should hold any

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Eurostoxx, SXF, Dax

Review: Monday was a quiet day with slight focus on GBP and JPY There are prospects of a quiet consolidation week without significant macroeconomic highlights. Yesterday’s FX trading clearly illustrated what to expect from the rest of the week. Focus will remain on JPY and GBP. The US: The US equity indices have continued their excellent, positive trading patterns from last week. The result is that S&P500 is now approx. 1% from its all-time high reached on 11 October 2007 of around 1576.

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Buy EURUSD with the target at 133

Resistance: 0.9487 strong / 0.9509 moderate / 0.9551 minor Support: 0.9445 moderate / 0.9424 minor / 0.9382 minor Three Outside Down is just under the pivot point at 0.9487 in 4-Hour USDCHF charts. With a combination of a high level bearish pattern and a strong resistance consider shorting at market the immediate objective at 0.9445 break of which should see us move to 0.9424. Stop loss should be placed above 0.9487.

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USDCHF Three Outside Down 4-Hour Chart

Resistance: 96.64 minor Support: 95.86 minor/95.34 moderate/94.56 strong USDJPY is in a bullish market though prices look overextended. Hourly charts show a low level bearish reversal candlestick pattern Hanging Man.

S&P 500 (Jun 13) INTRADAY Review Non Farm Payrolls was announced at a much better than expected 236k on Friday with the overall unemployment rate also unexpectedly dropping to 7.7% This was a very bullish piece of data and if you ignore the temporary Government census hires in the summer of 2010 then this matches the best readings seen since before the credit crunch. Once in 2011 and once in 2012 the NFP number hit similar heights but following that the number dropped back towards 100. So,

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The US but a negative factor generated by US dollar strength

Review: Excellent US job report set the agenda The US: Employment figures surprised considerably and strengthened USD. The good US job report on Friday (+236K against the estimate of +165K) strengthened the USD. EURUSD was 131 at the time of the announcement but declined to 130 in the wake of the release. The unemployment rate declined from 7.9% to 7.7% (expected unchanged). The devel-opment will support the Fed-members who want a fast and partial withdrawal of QE3. If the trend in the US

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Quiet week ahead

WEEKLY OUTLOOK AUD/USD – 1.0220 11 Mar 2013

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