Author Archives: Trade Advantage

DAILY AUD/USD OUTLOOK – 1.0215

S&P 500 (Mar 13) INTRADAY Review Yesterday the S&P staged a gravity defying rebound from Monday’s heavy losses and in fact the index closed just above the level opened the week at. Whist there were some seemingly negative comments from Italian politicians which suggested the likelihood of a coalition being formed was reducing, the S&P chose to overlook this and focus on more very positive US economic data as well as a more supportive Bernanke. We has a short strategy with the idea

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Ben Bernanke was again in the news yesterday

Resistance: 1601.22 strong/1610.32 moderate/1623.77 minor Support: 1587.77 moderate/1578.67 minor/1565.22 minor XAUUSD has a bias for the sell-side. 4-Hour charts also have a Bearish Engulfing confirming market direction though proximity to a moderate support at 1587.77 suggests we should wait for a close below it before jumping short. The immediate target of any sell-off is 1578.67 break of which sees 1565.22.

Review: No further bombshells from Bernanke EURUSD: Yesterday we raised the stop-profit level for EURUSD to 131.50. Overnight we reached S/P and therefore we closed the EURUSD recommendation with a return of 3.57%. GBPUSD: we recommended buying GBPUSD. We assess that the cross rate is very oversold at the current level and that we will, as a minimum, see a reasonable correction. Our target is at 155.50, which may be a bit optimistic, but we will adjust regularly. If GBP again gets in demand,

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Close EURUSD and BUY GBPUSD

1minute with ForexSurvivor

Forecast for 27th February 2013 Spot Euro EURUSD is very oversold so a bounce today is possible to 1.3182. We should struggle here with a high possible but if we push through 1.3200 we look for a selling opportunity at 1.3283 with a stop needed above 1.3320. A break below 1.3000 however could target 1.2890/80 before finding support in this down trend.

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

S&P 500 (Mar 13) INTRADAY Review We had a high risk long strategy yesterday as we felt the index would consolidate Monday’s heavy downside and not yet extend those losses. We had a tight stop given the high risk nature of the trade. Overall, the strategy worked well as the S&P bottomed out five ticks below our long entry level which was 4 ticks away from our tight stop. This low occurred around the European cash close as it was still uncertain at that point whether there was any chance

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We had a high risk long strategy yesterday

Forecast for 28th February 2013 Spot USDJPY USDJPY holding above Fibonacci support at 90.61 this week. We have failed to beat 92.36 resistance so far. The daily outlook remains negative so there is a diminishing chance we can push higher now. Immediate support is at 91.80 but below 91.40 we should retest 90.90/60 support. A break of 90.30 would not a be a surprise this week and could target strong support at 89.86/70. If we do manage a push above 92.40 look for 92.82 as the next resistance.

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

Forecast for 27th February 2013 Natural Gas March contract Natural Gas hit resistance at 3.446/3.460 & topped out as expected falling back to the 3.385/377 target & support which nicely held the down side. Today we are retesting resistance at 3.460 & will need to push through 3.480 to keep the positive momentum going for 3.505/3.512 & possibly as far as 3.534. Any profit taking should fill the gap at 3.435 & below here take us back to 3.385/377 which may hold the low again

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Natural Gas, XAU Spot Gold, Gasoil ICE, SXF

Review: No further bombshells from Bernanke Bernanke remains “dovish”, but acknowledges Fed disagreement. Recently, we have increasingly seen indications of disagreement in Fed’s monetary – policy committee. Consequently, Bernanke’s speech yesterday was subject to great attention. Would he 1) undermine the concerned Fed members or 2) acknowledge that QE3 poses a problem for financial stability? He mainly opted for (1) – that is undermining the concerned Fed members. However, he did not avoid

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Why is the election result in Italy such a big problem?

DAILY USD/CAD OUTLOOK –