Author Archives: Trade Advantage

DAILY TECHNICAL OUTLOOK ON USD/JPY Last Update At 24 Jan 2013 23:26GMT Daily Indicators Up Trend Daily Chart Overbought 21 HR EMA 89.78 55 HR EMA 89.35 Trend Hourly Chart Up Hourly Indicators Overbought 13 HR RSI 80 14 HR DMI +ve Daily Analysis Resumption of MT uptrend Resistance 91.47 – 1.618 time ext. of 75.32-84.18 fm 77.13 90.92 – 1.618 times ext. of 77.13-82.84 fm 81.68 90.63 – Equality proj. of 86.83-89.67 fm 87.79 Support 89.85 – Y’day’s hourly sup 89.45 – Y’day’s hourly sup 88.73 –

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USD/JPY Daily Technical Outlook: January 25, 2013

S&P 500 (Mar 13) INTRADAY Review It was a day of consolidation yesterday with a bullish doji being printed on the daily chart and the range for the day being contained within the upper half of Tuesday’s range. We had a long strategy with an entry level at 1485.25 and this level performed perfectly as support with the dip in the S&P at 15.30pm GMT posting a low for the whole day 3 ticks below our long entry point. From there the market turned back to the highs and finally retested the

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The currency pair continues to grind out this sideways range

Forecast for 24th January 2013 Spot USDJPY The USDJPY has reached the 89.40/45 resistance and after a struggle we have broken through here. However there is resistance at 89.67 from the peak seen in early January and if we fail to push through here we have a bearish head and shoulders top pattern. This would suggest a move back to 88.94 then 88.54 with the first main target of 88.14/10. This is the neck line to the head and shoulders and a break here would signal further significant losses in

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Spot USDJPY, Nikkei, Straits Times Index, Topix, Hang Seng CE Index , Hang Seng, JGB, Kospi

Review: China announced strong PMI data – indicating strong economic growth. PIIGS: Portugal is back It was good news for the euro and gave credence to the euro cooperation that yesterday Portugal managed to raise funding at an auction on market terms. The fact that no less than 93% of the investors were foreign indicates that generally there are positive expectations that the full backing of the ECB to the euro is effective. With respect to our main scenario, it would be perfect if EURUSD

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Consolidation coming to an end

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EUROSTOXX 50 (Mar 13) INTRADAY Review The Eurostoxx spent yesterday’s session slowly grinding lower, eventually finding support for the session at Tuesday’s lowest hourly close (point of rotation for Tuesday’s bounce off the lows). Eventually the index closed the session down 11 prices (a loss of 0.55%). Our yesterday’s entry short at 2,734 was not reached. The index continues to trade on light volumes – yesterday’s daily volume was 24% lower compared to Tuesday. Strategy The low momentum

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The Eurostoxx spent yesterday’s session slowly grinding lower

Forecast for 24th January 2013 Spot Euro EURUSD resistance at the week’s high of 1.3372 and we have resistance again at 1.3395/1.3405 which should remain a very tough obstacle. A good chance therefore of a high for the day again if tested with the daily stochastic now signalling we have seen a top for this market. We also have a double top pattern to support this theory and could head lowing in the days to come. However if we do break 1.3415, the next target of 1.3491 could be achieved.

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

EUR is very strong ///////// ***********EURCAD///////// long //////// trading size : medium or agressively///////////upside target 1.3700 at least //////////stop loss 1.3050//////////entry 1.3295///////////

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EURCAD will go up sharply

S&P 500 (Mar 13) INTRADAY Review Yesterday was an active session with risk off themes taking the index 10 points lower as the German banking regulator asked two German banks to simulate a Liikanen model split which sent financial stocks into a bit of a tailspin. However, this is good dependable German house keeping and not necessarily the beginning of the break up of large cap banks that have commercial as well as investment banking operations. The downside didn’t last long as the German

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The currency pair enjoyed a lively session yesterday

Forecast for 24th January 2013 Nikkei March contract Nikkei Futures broke lower and we expect a test of 10425/386 support. This could see the market bottom out for this week at least so may be wise to exit any shorts but longs here do need a stop below 10350. A break lower would then target 10220- 10190 next. Resistance at 10620/60 then 10750/770 for taking profit on any longs. Any push higher could reach 10840/860 but above here a retest of 10960/980 highs looks likely. We will find it

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Nikkei, Straits, Topix, Hang Seng CE Index, Hang Seng , JGB , Spot USDJPY, Kospi

Review: Unexpected easing on the part of Turkey. The UK: Central bank governor’s statements weaken GBP. Yesterday Mervyn King, the UK central bank governor, stated that the economic data for Q4 2012 to be announced soon will be poor (we have stated that for quite some time). Moreover he stated that the central bank is prepared to do more and that the benchmarks of the central bank (in respect of inflation) should be revised with respect to “fine-tuning”. Turkey: Surprise easing by the central

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Today focus will be on the UK

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EUROSTOXX 50 (Mar 13) INTRADAY Review Yesterday’s session commenced with broad-based downside volatility across the equity and the currency space, yet the downside momentum failed to gain subsequent traction. The Eurostoxx pared all of yesterday’s early morning losses by mid-morning and spent the rest of the session in a tight consolidation near the highs of the day. Our yesterday’s strategy focused on fading a potential break of last week’s high with an entry short at 2,737. However, our

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Having spent Monday’s session within a tight accumulation

Market Review – 22/01/2013 23:10 All times in GMT Yen rises as BoJ delays asset buying The Japanese yen advanced against other currencies on Tuesday as the Bank of Japan said it will start open-ended asset purchases in 2014, disappointing investors who expected the BoJ will take aggressive action in near future. Versus the Japanese yen, although the greenback rose from 89.28 to 90.18 in Asia after the Bank of Japan announced to ease further its monetary policy, failure to Monday’s 30-month

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Yen rises as BoJ delays asset buying

S&P 500 (Mar 13) INTRADAY Review It was a bank holiday in the US yesterday and so market activity was phenomenally subdued. The only point worth making is that the low volume push higher into the early close at 16.30GMT for the E-mini S&P 500 meant the highest close since the 28th December 2007. Also, of course, we saw the ushering in of Obama’s second term with the surprisingly liberal speech from the President. Strategy Overnight the BoJ delivered their side of the bargain in terms

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The cash market was closed for trading yesterday