Author Archives: Trade Advantage

Review: Is the UK about to lose its AAA rating? The UK: Rumours about downgrade of credit rating. During yesterday’s trading session in Europe there were rumours of an upcoming downgrade of the UK credit rating (it should apparently have taken place already yesterday evening). So far nothing has happened. In our view, the effect of a downgrade will be marginal. This is due to the following: – A downgrade is very much already discounted in the current GBP price as well as in the UK

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Focus on minutes of monetary-policy meetings in the UK and the US

Forecast for 20th February 2013 Bund March contract Bund is directionless with initial support at 142.68 then 142.44/40. Below here today 142.23/20 could hold the low but look for support again at 141.98. Any longs need a stop below 141.85 for 141.67. Above 142.68 another test of 143.00/11 looks likely. This should remain a big obstacle but a break targets 143.49 then 143.73.

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Bund, Eurostoxx, Gasoil ICE, XAU

1minute with ForexSurvivor

S&P 500 (Mar 13) INTRADAY Review Yesterday was President’s Day bank holiday in the US and so the E-mini S&P had a shortened session. As expected the market was unmoved all day and was stuck in a 3 point range between 1519 and 1516. Strategy This morning has seen the German ZEW economic sentiment data surge above expectations to post a new 2.5 year high and in so doing adding weight to the belief that the start of 2013 will seen the German economy snap back to growth after a – 0.6%

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Yesterday was President’s Day bank holiday in the US

Forecast for 19th February 2013 Spot USDJPY USDJPY retested resistance at 93.90/94.05 but stretched to 94.22. This could hold again today & we may hover below this point today as we build a medium term topping pattern. Only just above here we hit 94.36/46 highs for the bull run where we can try shorts looking for a top as daily & shorter term charts are calling for a move back to 92.30/15. Stop needed above 94.55 however, to target 2010 highs at 94.80/94.99. If this does not hold us

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

Forecast for 19th February 2013 RBOB Gasoline March contract March RBOB has embarked on the next leg of the bull run which should target 320 & probably as far as 323.89. We have support at 312.50 which should hold a slide. However below here 310 is likely to provide a floor & an excellent buying opportunity for today if tested. Last week’s high of 316.39 is resistance but a break of 317 targets 320.50.

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RBOB Gasoline, XAU Spot Gold, Gasoil ICE, Natural Gas

Resistance: 1616.47 moderate/1623.39 minor/1628.09 minor Support: 1611.77 strong/1604.85 moderate/1600.15 minor XAUUSD has a high credibility bullish pattern Morning Star (Doji) in Hourly charts. With prices just above a strong support 1611.77, 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 1616.47 break of which open us to a run for 1623.39 and a possible uptrend. Learn more about

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XAUUSD Morning Star (Doji) Hourly Chart

Review: JAPAN: Japan’s finance minister Aso confirmed that Japan has no immediate plans of buying foreign government bonds to weaken JPY further. Also, he rejected the rumour that Japan will change the central-bank act. Both announcements fuelled the ongoing JPY consolidation. EURJPY weakened by almost 0.5%. EURJPY has scope for a weakening towards the 123-124, which we expect will take place over the coming week. RSI and MACD are both pointing downwards and confirm the scenario. EURGBP: The

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Consolidation phase of EURJPY continues

Review: JAPAN: Japan’s finance minister Aso confirmed that Japan has no immediate plans of buying foreign government bonds to weaken JPY further. Also, he rejected the rumour that Japan will change the central-bank act. Both announcements fuelled the ongoing JPY consolidation. EURJPY weakened by almost 0.5%. EURJPY has scope for a weakening towards the 123-124, which we expect will take place over the coming week. RSI and MACD are both pointing downwards and confirm the scenario. EURGBP: The

Here is the original:
Consolidation phase of EURJPY continues

Review: JAPAN: Japan’s finance minister Aso confirmed that Japan has no immediate plans of buying foreign government bonds to weaken JPY further. Also, he rejected the rumour that Japan will change the central-bank act. Both announcements fuelled the ongoing JPY consolidation. EURJPY weakened by almost 0.5%. EURJPY has scope for a weakening towards the 123-124, which we expect will take place over the coming week. RSI and MACD are both pointing downwards and confirm the scenario. EURGBP: The

Here is the original:
Consolidation phase of EURJPY continues

Forecast for 19th February 2013 Spot Euro EURUSD fell to test very good support at 1.3320/10 where we predicted a low for last week. This worked perfectly with a low at 1.3306 & a bounce back to resistance at 1.3377 which is exactly where we topped out. 1.3310/00 could be tested again today & with daily charts becoming over sold, a chance of another bounce. If we fail here we have further support from the 55 day moving average at 1.3275 but below here a test of the 7 month uptrend line

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Spot Euro, DJIA

Forecast for 19th February 2013 Spot Euro EURUSD fell to test very good support at 1.3320/10 where we predicted a low for last week. This worked perfectly with a low at 1.3306 & a bounce back to resistance at 1.3377 which is exactly where we topped out. 1.3310/00 could be tested again today & with daily charts becoming over sold, a chance of another bounce. If we fail here we have further support from the 55 day moving average at 1.3275 but below here a test of the 7 month uptrend line

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Spot Euro, DJIA

Forecast for 19th February 2013 Spot Euro EURUSD fell to test very good support at 1.3320/10 where we predicted a low for last week. This worked perfectly with a low at 1.3306 & a bounce back to resistance at 1.3377 which is exactly where we topped out. 1.3310/00 could be tested again today & with daily charts becoming over sold, a chance of another bounce. If we fail here we have further support from the 55 day moving average at 1.3275 but below here a test of the 7 month uptrend line

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Spot Euro, DJIA

Forecast for 19th February 2013 Spot USDJPY USDJPY retested resistance at 93.90/94.05 but stretched to 94.22. This could hold again today & we may hover below this point today as we build a medium term topping pattern. Only just above here we hit 94.36/46 highs for the bull run where we can try shorts looking for a top as daily & shorter term charts are calling for a move back to 92.30/15. Stop needed above 94.55 however, to target 2010 highs at 94.80/94.99. If this does not hold us

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