Author Archives: Trade Advantage

1minute with ForexSurvivor Latest impact:

1minute with ForexSurvivor Latest impact:

Resistance: 1.0079 moderate/1.0111 minor/1.0139 minor Support: 1.0051 strong/1.0019 moderate/0.9991 minor USDCAD has a high credibility bullish pattern Three Inside Up in 4-Hour charts. With prices just above a strong support 1.0051, 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 1.0079 break of which open us to a run for 1.0111 and a possible uptrend.

Resistance: 1.0079 moderate/1.0111 minor/1.0139 minor Support: 1.0051 strong/1.0019 moderate/0.9991 minor USDCAD has a high credibility bullish pattern Three Inside Up in 4-Hour charts. With prices just above a strong support 1.0051, 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 1.0079 break of which open us to a run for 1.0111 and a possible uptrend.

Forecast for 12th February 2013 Spot Euro EURUSD held just above support at 1.3310/1.3290. 1.3415/20 is resistance today but above here look for 1.3473. We may see a top here but if we push higher look for 1.3518, possibly 1.3564 to exit longs and sell in to shorts with a stop above 1.3580. Support at 1.3375 then yesterday’s low at 1.3325 but below here we still have good support at 1.3310/1.3290 and the chance of a low for the day if tested.

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Spot Euro, DJIA, Natural Gas, XAU Spot Gold

Forecast for 12th February 2013 Spot Euro EURUSD held just above support at 1.3310/1.3290. 1.3415/20 is resistance today but above here look for 1.3473. We may see a top here but if we push higher look for 1.3518, possibly 1.3564 to exit longs and sell in to shorts with a stop above 1.3580. Support at 1.3375 then yesterday’s low at 1.3325 but below here we still have good support at 1.3310/1.3290 and the chance of a low for the day if tested.

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Spot Euro, DJIA, Natural Gas, XAU Spot Gold

Forecast for 11th February 2013 Kospi March contract Kospi Future broke resistance at 256.25/60 to hit the next target of 258.30/50. As expected this was a big obstacle & we topped at 258.45. A break higher looks possible today for 260 with scope for 261.25/50. Support at 256.30 then 255.00. Unlikely we fall any further with the market looking in recovery mode at the moment but below here 253.40/252.85 should be a buying opportunity.

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Kospi, Nikkei, Topix

AUDUSD ///////// aussie is very weak .

Review: Keep an eye on Cyprus and Fed’s Yellen Cyprus: Rumours of 50% haircut as well as losses for unsecured depositors For quite some time, Cyprus has been a candidate for a rescue package, but the Germans, among others, have been most reluctant to grant this assistance. The reason is that reportedly Cyprus is a centre for extensive money laundering of amounts running into billions made on corruption and crime by Russian criminals. Therefore a rescue package would be tantamount to sending

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Pay attention to Cyprus and the weekend’s G20 summit

S&P 500 (Mar 13) INTRADAY Review The S&P has a perfect record for 2013 as in closing at at five year high of 1512.50 the index posted its sixth straight up week in a row this year. The range bound conditions for much of the week where replaced by a positive US cash open on Friday that generated the break of the technical resistance at 1511 which had consistently provided strong resistance for the previous five trading sessions. Strong Chinese trade balance data and then the narrowest

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The strategy favours the downside slightly

Forecast for 11th February 2013 Spot USDJPY The USDJPY has backed away from 93.99 major long term yearly resistance as predicted & hit our second target of 92.58/45. We are building a short term topping pattern which will be confirmed on a break below 92.15 where upon we should see 91.75 then 91.13/06. However bear in mind that the measured target for the break could be as far as 90.06 in the coming days. 93.18 should cap any move higher today. However above here 93.99/94.07 should remain

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

Forecast for 11th February 2013 Spot USDJPY The USDJPY has backed away from 93.99 major long term yearly resistance as predicted & hit our second target of 92.58/45. We are building a short term topping pattern which will be confirmed on a break below 92.15 where upon we should see 91.75 then 91.13/06. However bear in mind that the measured target for the break could be as far as 90.06 in the coming days. 93.18 should cap any move higher today. However above here 93.99/94.07 should remain

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Spot USDJPY, RBOB Gasoline, XAU Spot Gold

1minute with ForexSurvivor

S&P 500 (Mar 13) INTRADAY Review The strategy yesterday was stopped out as the S&P got dragged lower by the 200 pip sell off in the EURUSD following Mario Draghi’s comments at the ECB press conference. His rhetoric was far from transparent but his one sentence ‘We want to see if this (Euro) appreciation is sustained and if it alters our assessment of price stability’. Whilst this is not directly negative in economic terms it raises the ‘currency war’ factor and given the positive

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The EURUSD was looking a bit bullish ahead

The ECB: We have seen the peak for EURUSD. As described yesterday, it would be negative for EUR if Mario Draghi chose to comment on the recent appreciation of EUR. He chose to do so – and EUR weakened as expected. Draghi said that a higher EUR rate would entail the risk of downward pressure on inflation. Moreover, Draghi voiced a fairly negative view of the economy, which is still showing signs of weakness. On the other hand, he had a positive view of the LTRO repayments, which he considers an

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Draghi’s comments with long-term repercussions for EUR

Forecast for 8th February 2013 XAU Spot Gold Spot Gold has been directionless for over a week now stuck from 1684.05 down to 1658.01. Yesterday we held resistance at 1682.18-1683.10 and above Monday’s low of 1662. We have 200 day moving average support at 1665 today. Any longs here need a stop below Monday’s low of 1662 for 1660/58. Resistance at 1673 but above here we could try for 1677.00/75 & a push through here targets 1682.18-1683.10 again with a possible high for the day. Above here

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XAU Spot Gold

EUROSTOXX 50 (Mar 13) INTRADAY Review The Eurostoxx started yesterday’s session with a continuation of the bounce which materialised a in the latter part of Wednesday’s session. However, the index failed to get further traction to the upside having retraced just over 60% of Wednesday’s losses and spent the latter part of the session in a directional selloff which brought the index to dip below the 2,600 handle. Our yesterday’s entry long at 2,601 was reached in the latter part of the session

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EUR/USD following the push lower to the 1.25 handle on Wednesday