Author Archives: Trade Advantage

Forecast for 10th January 2013 Spot Euro EURUSD did hold below 1.3100 and we are just hovering below 1.3070/65, which should now act as resistance. We could be heading for 1.3022/17 next. We do need to exit any remaining shorts if we test last week’s lows at 1.2998 and could be worth buying in to longs here as this is good support. However a stop loss is required below 1.2950 as a break signals continued losses to 1.2920/09. Exit shorts here again and buy in to longs looking for a low for the

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Spot Euro, WTI Light Crude, Brent Crude, Dax, DJIA, Eurostoxx, FTSE 100, E-Mini S&P

Market Review – 09/01/2013 23:34 All times in GMT Yen tanks against dollar and euro on expectation of BoJ easing The Japanese yen fell sharply against dollar and euro on Wednesday as Japan Prime Minister Shinzo Abe wanted the Bank of Japan to take sufficient monetary policy action to achieve a 2% inflation target. Versus the Japanese yen, although the greenback extended weakness to a low at 86.83 in Australia, broad-based selling of yen lifted the pair to 87.55 in Asian and then 87.74 in

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Yen tanks against dollar and euro on expectation of BoJ easing

DAILY TECHNICAL OUTLOOK ON GBP/USD Last Update At 10 Jan 2013 00:08GMT Trend Daily Chart Sideways Daily Indicators Turning down 21 HR EMA 1.6029 55 HR EMA 1.6050 Trend Hourly Chart Near term down Hourly Indicators Oversold 13 HR RSI 37 14 HR DMI -ve Daily Analysis Marginal weakness b4 rebound Resistance 1.6129 – Tue’s high 1.6075 – Y’day’s high 1.6033 – Y’day’s NY high Support 1.5992 – Y’day’s low 1.5962 – Nov 28 low 1.5920 – Nov 22 NY low . GBP/USD – 1.6013 … The British pound tracked euro’s

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GBP/USD Daily Technical Outlook: January 10, 2013

AUDNZD////// NZD is very strong ///// Short ///// entry

Review: Unfounded rumours about downgrade of France Unfounded rumours about France’s credit rating affected EUR During trading yesterday, there were suddenly rumours of an upcoming downgrade of France’s credit rating. Reportedly the rating agency Egan Jones was about to issue a ’warning’. EUR fell fairly much on the rumours – which later on proved to be unfounded. EUR regained some of the lost ground Poor European economic indicators were better than expected – the Germans disappointed The

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Investors on the sidelines until Thursday’s ECB meeting

Resistance: 1665.47 moderate/1671.98 minor/1681.47 minor Support: 1655.98 strong/1649.47 moderate/1639.98 minor XAUUSD is generally bullish with a high level bearish reversal pattern Evening Star (Doji) in 4-Hour charts just above a strong support level at 1655.98, the Pivot Point. Look to sell on a push under 1655.98 with stop losses just above the Evening Star (Doji) high. Our immediate objective is 1649.47 break of which may see us dropping to 1639.98. Learn more about the chart patterns

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XAUUSD Evening Star (Doji) 4-Hour Chart

Forecast for 10th January 2013 Hang Seng CE Index Jan contract Hang Seng China Enterprises Futures have seen some profit taking as expected breaking 11837 to reach the next target at 11712. If we below here today, look for a buying opportunity at 11620/600. Stops on longs needed below 11500 however for 11336/315. Exit all shorts and try longs here again with a stop below 11270. Resistance now at 11837/67 but if we push back above here we may try for a retest of last week’s high at 12038. A

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Hang Seng, Hang Seng, JGB, Kospi, Nikkei, Straits, Topix

S&P 500 (Mar 13) INTRADAY Review We favoured the downside yesterday with a short bias on the strategy and thi was valid as the market broke Monday’s low at 1450.75 and pushed down to test the key long term support at 1446 (Dec 2012 High) going into the European close. 1446 halted the downside and the market recovered nicely in the latter half of the US session. Jim ONeil’s comments garnered some press attention as he highlighted the surprising statistic that if the market is net positive

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The EURUSD was caught within a range yesterday morning

EUROSTOXX 50 (Mar 13) INTRADAY Review The Eurostoxx gapped lower yesterday morning, setting a new low for the week but was able to recover in early morning trading. Having tested last Wednesday’s highs, the index sold off in the latter part of yesterday’s session to finish the day unchanged. Our yesterday’s entry short at 2,693 was reached but proved a little aggressive in the face of the early morning upside momentum, which lead to our stop being breached. The flow of economic data from

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The EUR/USD entered an interim accumulation at Tuesday’s highs

Forecast for 9th January 2013 Spot Euro EURUSD reached our next target of 1.3145/55 and as predicted this was enough of a rally with a high for the day here as we fell back to our support at 1.3070/65 and held here also. 1.3145/55 resistance should be tough to beat again today but be ready to stop out of any shorts here buy back in to longs above 1.3170 looking for a move to 1.3200/07 as the next target. If we continue to hold below 1.3100 we should see another test of support at 1.3070/65 and

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Spot Euro, Eurostoxx, WTI Light Crude, Brent Crude, Dax, FTSE 100, E-Mini S&P, DJIA