Author Archives: Trade Advantage

GBP/USD Daily Technical Outlook Last Update At 28 Dec 2012 00:47GMT Trend Daily Chart Sideways Daily Indicators Neutral 21 HR EMA 1.6122 55 HR EMA 1.61438 Trend Hourly Chart Down Hourly Indicators Rising fm oversold 13 HR RSI 45 14 HR DMI -ve Daily Analysis Marginal weakness b4 rebound Resistance 1.6238 – Dec 19 low 1.6203 – Y’day’s high 1.6151 – Y’day’s NY sup, now res Support 1.6067 – Y’day’s low 1.6043 – Dec 07 NY high 1.6003 – Dec 07 low . GBP/USD – 1.6112 … The British pound also gyrated

Read the original post: 
GBP/USD Daily Technical Outlook: December 28, 2012

Market Review – 27/12/2012 22:26 All times in GMT Euro tanks on worries about U.S. fiscal cliff The single currency fell sharply on Thursday amid an impasse on Federal budget talks as U.S. Senate Majority leader Harry Reid said the U.S. economy seemed to be heading over the ‘fiscal cliff’ of tax hikes and spending cuts. Although the single currency retreated from Asian high at 1.3245 to 1.3223, euro rose strongly in European morning as early release of better-than-expected French consumer

Continued here: 
Euro tanks on worries about U.S. fiscal cliff

Resistance: 1.3291 minor/1.3328 minor Support: 1.3257 moderate/1.3220 strong/1.3186 moderate We have a moderately credible bearish reversal pattern, Dragonfly Doji (Bear) in Hourly EURUSD charts. With prices under a minor resistance look for a possible technical correction, stops just over 1.3291 the immediate objective 1.3257 break of which sees the Pivot Point as its target.

Resistance: 0.9110 moderate/0.9134 strong/0.9157 moderate Support: 0.9087 minor/0.9062 minor The Bearish Engulfing in 4-Hour charts is a confirmation of the overall bearish trend. With a moderate resistance at, 0.9110 consider shorts from the said price with a stop loss above it. Alternatively stops could be placed above the pattern high. Immediate objective is 0.9087, break of which opens us to a sell-off to 0.9062. Learn more about the chart patterns and how to recognize them in our Learning

Read the original post:
USDCHF Bearish Engulfing 4-Hour Chart

Review: The fiscal cliff drama continues in the US. The US: After the unsuccessful vote in the House of Representatives, the initiative now lies with the Senate (Democratic majority). It is now up to the Democrats to get an agreement approved by the Senate and then to have it approved by the House of Representatives. There is no time to waste – the cliff will be reached on 1 January. However, it should be borne in mind that even if we go over the cliff, there is some ‘leeway’. The politicians

The rest is here:
The Japanese yen has weakened by more than 20% since July

S&P 500 (Mar 13) INTRADAY Review We had a neutral long strategy yesterday. The sell off to the bottom of the earlier range just ahead of the 15.00pm data took the market down to within 4 ticks of our strategy entry level at 1427.25 and so very aggressive orders may have been picked up here. The market then turned higher after some exceptionally good US data with ehg Philadelphia Fed survey coming in with the best reading since April and the Existing Home Sales number powering above the 5

Read the rest here: 
We had a neutral long strategy yesterday