Author Archives: Trade Advantage

S&P 500 (Mar 13) INTRADAY Review We were correct to have an overall neutral view yesterday as the market maintained its range of the last few sessions. The first part of the US session saw the S&P drift lower and around the European close test Friday’s low at 1451.25. This created the turning point of the session and going into the US close the index retested the morning highs. However, the range was all of seven points and it meant that our short entry level was not tested. Yesterday

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Crude was initially downwards trending yesterday morning

Resistance: 0.8402 moderate/0.8434 minor/0.8492 minor Support: 0.8344 strong/0.8312 moderate/0.8254 minor Overall bias in NZDUSD is bullish with the Hammer just above a strong support level. Though a low level bullish reversal candlestick pattern, given the strong support consider taking a buy with 0.8402 as the immediate target, possibly further on to 0.8434. A stop loss should be placed below 0.8344, the Pivot Point. The prudent course of action is to look for a confirming big white

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NZDUSD Hammer Hourly Chart

Forecast for 9th 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 but if we push back above here we may try for a retest of last week’s high at 12038. A break

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

Review: A word of warning to the US and the EU The IMF warns both the EU and the US: The economic problems in the two regions may worsen the global development. We and you are, of course, aware of this situation. However, the fact that the IMF continues to point this out indicates that the IMF very much focuses on the two regions and their temporary solutions. As the IMF is an international body, its agenda is to secure the development in all regions. That is one reason why we expect that it

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Pause in JPY weakening

Resistance: 0.8402 moderate/0.8434 minor/0.8492 minor Support: 0.8344 strong/0.8312 moderate/0.8254 minor NZDUSD has a high credibility bullish pattern Three Inside Up in Hourly charts. With prices just above a strong support 0.8344, 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 0.8402 break of which open us to a run for 0.8434 and a possible uptrend. Learn more about the chart

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NZDUSD Three Inside Up Hourly Chart

EUROSTOXX 50 (Mar 13) INTRADAY Review The Eurostoxx opened 8 prices below last Friday’s close yesterday and proceeded to trade lower as the session developed, prompting the index to close the day with a loss of 0.74%. The correction was not driven by fundamental catalysts and lacked in downside momentum, which we noted to have been the hallmark of trading in equity indexes throughout last week. Our yesterday’s entry short at 2,719 was not reached. Strategy The clear feature of the first few

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The Eurostoxx opened 8 prices below last Friday’s close yesterday

Market Review – 07/01/2013 22:52 All times in GMT Euro rises strongly in NY ahead of ECB meeting The single currency rallied in New York session on Monday as investors adjusted their positions ahead of the European Central Bank meeting on Thursday. The single currency met renewed selling below last Friday’s New York high at 1.3090 in Australlia, price ratcheted lower in Asian session and reached an intra-day low of 1.3017 in European morning due to cross selling of euro versus yen and sterling.

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Euro rises strongly in NY ahead of ECB meeting

DAILY TECHNICAL OUTLOOK ON USD/CHF Last Update At 08 Jan 2013 02:05GMT Trend Daily Chart Sideways Daily Indicators Turning up 21 HR EMA 0.9231 55 HR EMA 0.9239 Trend Hourly Chart Up Hourly Indicators Falling 13 HR RSI 38 14 HR DMI -ve Daily Analysis Consolidation with downside bias Resistance 0.9302 – Last Fri’s high 0.9258 – Y’day’s hourly res 0.9232 – Last Fri’s low, now res Support 0.9200 – Jan 02 high 0.9176 – Last Thur’s low 0.9136 – Jan 02 European res . USD/CHF – 0.9212 … Dlr went

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USD/CHF Daily Technical Outlook: January 8, 2013

Forecast for 8th January 2013 Eurostoxx March contract Eurostoxx future held Friday’s range, below 2712/13 resistance as we tested 2687/84 which was our first target and support. Below here today there is scope for 2774/71 to be tested. Watch for a bounce from here so exit shorts and try longs. A stop is needed below 2666 however as a break lower would then suggest we trade down to 2645 where we should exit any shorts once again and attempt longs looking for a low for the day. Stops needed

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

Resistance: 1652.96 moderate / 1671.41 strong / 1682.05 moderate Support: 1642.32 minor / 1623.87 minor The Evening Star (Doji) in Hourly charts is a confirmation of the overall bearish trend for XAUUSD. With moderate resistance at 1652.96 consider shorts at market given the high credibility bearish pattern with a stop loss above it. Alternatively stops could be placed above the pattern high. Immediate objective is 1642.32, break of which opens us to a sell-off to 1623.87.

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XAUUSD Evening Star (Doji) Hourly Chart

S&P 500 (Mar 13) INTRADAY Review We had a short bias for equities on Friday as our view was that even if Non-Farm Payrolls came in in-line or slightly better than expected it would not be enough to trigger more upward momentum given the huge upside seen earlier in the week. This proved to be the correct view as the Payrolls number marginally beat expectations and our short entry level at 1459.75 provided strong resistance thorough most of the US session. However, there was virtually no

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EURUSD bounced off the key psychological support level at 1.3000 on Friday

Hang Seng CE Index Jan contract Forecast for 8th January 2013 Hang Seng China Enterprises Futures continues the 6 month bull run but failed to close the week above the 2012 high having pierced it on Thursday. We may therefore see some profit taking at the start of the week and below 11837 signals a move to 11712. If we cannot hold on here look for a buying opportunity today at 11620/600. Stops on longs needed below 11500 for 11336/315. Exit all shorts and try longs here again with a stop below

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

Review: The minutes of the monetary-policy meeting in the US offered a surprise. Over the weekend the global banks were given a helping hand. The strict Basel rules that the banks were about to implement were postponed by up to four years. Generally this is very good news for the banks as it will now be possible for them to keep a large proportion of their capital ‘at work’, hence generating higher earnings. In actual fact, however, the effect may be questioned because – as pointed out by

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Positive sentiment to be expected

NZDUSD Bullish Engulfing 4-Hour Chart Resistance: 0.8379 minor/0.8408 minor Support: 0.8329 moderate/0.8300 strong/0.8250 moderate Market is generally bullish with Bullish Engulfing suggesting a further push up. Given that the pattern is a medium reliability setup consider going long the immediate objective at 0.8379 possibly a run to 0.8408. Stop losses ideally should be under 0.8329 though a tighter stop under the pattern low is also viable. It is best to wait for a confirmation. EURUSD High

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EURUSD High Wave Doji (Bull) 4-Hour Chart

EUROSTOXX 50 (Mar 13) INTRADAY Review The Eurostoxx opened sharply higher and surpassed the highs of 2012 last Wednesday, and proceeded to trade within a tight accumulation throughout the course of the week, closing Friday’s session just below the new high for the year. Thus the weekly gain for the index totalled at 3.56%, with the majority of the upside resulting from the gap open on Wednesday (a gain of 1.42% bar the gap). Our Friday’s entry short at 2,705 was reached following the European

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The Eurostoxx opened sharply higher