Author Archives: Trade Advantage

Forecast for 7th January 2013 Spot Euro EURUSD held above good support from the 55 day moving average and the 6 month uptrend line at 1.2985/75 last week. We have resistance at 1.3090/95 today but above here we look for a move to 1.3145/55. This may be enough of a rally for today so watch for a high for the day but be ready to buy back in to longs above 1.3170 looking for a move to 1.3200/07 as the next target. We could find a floor at 1.2985/75 if this is tested today so worth exiting shorts

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

Forecast for 7th January 2013 Hang Seng Jan contract Hang Seng Futures have been in a strong up trend now for over 6 months. Although the market is severely overbought in all time frames, it is unwise to fight the trend so we look to buy in to any profit taking. 22850/800 is our first downside support and we could see a bounce from here if tested today. Exit shorts and try longs with a stop below the gap at 22741. Should then be worth trying shorts on a break lower looking for the next target

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

S&P 500 (Mar 13) INTRADAY Review Yesterday we had the view that the S&P would struggle to add to the impressive gains seen on Wednesday as we felt that the relief reaction to the Fiscal Cliff deal was perhaps just a knee jerk and short term response. We had an entry level at 1459.75 which was a key long term resistance from the 19th October high. The much better than expected ADP employment number helped to eventually get the Index up to test our entry point at the European close.

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We were looking for resistance at the $93 handle yesterday

Review: The minutes of the monetary-policy meeting in the US offered a surprise. The US: The minutes of the recent FOMC meeting offered a surprise. The minutes stated that several other were of the opinion that most likely it would be most appropriate to put a damper on or stop the Fed’s purchases by the end of 2013. What should be noted it the phrase ‘several others’ – what does this signify? Just the usual hawks or have others jumped on the bandwagon? So far the key people (e.g. Yellen and

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FOMC minutes offered a surprise and USD strengthened

EUROSTOXX 50 (Mar 13) INTRADAY Review The Eurostoxx traded in a range between 2,681 and 2,701 throughout yesterday’s session, with the price action understandably slowing down after the rally on Wednesday and the strong bounce from last Friday’s lows. Despite the index finishing yesterday’s session with a loss of 0.59%, the gain from last Friday’s lows currently stands at 3.26%. Our yesterday’s strategy entry short at 2,718 was not reached. While we continue to favour establishing short

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The Bund continued to trade lower yesterday

DAILY TECHNICAL OUTLOOK ON GBP/USD Last Update At 04 Jan 2013 00:18GMT Trend Daily Chart Sideways Daily Indicators Oversold 21 HR EMA 1.6151 55 HR EMA 1.6193 Trend Hourly Chart Down Hourly Indicators Oversold 13 HR RSI 44 14 HR DMI -ve Daily Analysis Consolidation with downside bias Resistance 1.6242 – Y’day’s European high 1.6202 – Y’day’s Asian sup, now res 1.6145 – Y’day’s European sup, now res Support 1.6053 – Intra-day sup 1.6003 – Dec 07 low 1.5956 – 38.2% r of 1.5270-1.6380 . GBP/USD –

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GBP/USD Dily Technical Outlook: January 4, 2013

Market Review – 03/01/2013 22:57 All times in GMT Dollar rallies broadly as Fed minutes show doubts on QE U.S. dollar rallied broadly against major currencies on renewed risk aversion in late New York on Thursday as the Fed minutes showed that the officials are increasingly worried about the risks of asset purchases on financial markets. The single currency fell initially below Wednesday’s low at 1.3156 to 1.3125 in Asian morning due to cross selling of euro versus yen. Although euro staged a

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Dollar rallies broadly as Fed minutes show doubts on QE

S&P 500 (Mar 13) INTRADAY Review Yesterday saw the S&P post an enormous 2.61% gain which makes it the biggest up day in over 12 months thanks to the last ditch fiscal deal reached in Washington on New Year’s Day. After an initial gap open the index was sideways for most of the session until a powerful push into the US close took the market to new highs and just fell short of testing key long term resistance at 1459.75. Our long entry point just missed out on being hit before the

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Yesterday we misjudged the currency pair and were far too bullish