Author Archives: Trade Advantage

EUROSTOXX 50 (Mar 13) INTRADAY Review The Eurostoxx pared Wednesday’s losses in yesterday’s trade and finished the day with a gain of 0.64%. Our yesterday’s neutral entry short at 2,646 proved to be too aggressive for what turned out to be relatively bullish market conditions and was stopped out. The final reading for the US Q3 GDP was revied higher to 3.1% vs. prev. 2.7%. Existing Home Sales came in stronger at 5.04m vs. prev. 4.76m. Philadelphia Fed also posted a rebound, with the headline

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The Eurostoxx pared Wednesday’s losses in yesterday’s trade

Forecast for 21st December 2012 Spot Euro EURUSD went for a retest of the week’s high at 1.3308 and failed just below here leaving a small double top in place. We fell sharply from here once again and are testing support at 1.3207. Watch for a move below 1.3185 to signal continued weakness to good support at 1.3155/45. Exit shorts here and buy in to longs as we look for a low for the day before the weekend. We do need a stop loss below 1.3120 for 1.3094, possibly 1.3060/45. Exit shorts here

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

S&P 500 (Mar 13) INTRADAY Review We were looking for a trend continuation trade yesterday and had a long entry at 1438.75. This technical area was tested strongly following the US cash open and after the market hit the support it spent about half an hour consolidating around this technical value area that was also strengthened by the pivot level. The index then bounced but failed to reach our first profit target at 1448 and instead topped out at 1442. The S&P then trended to the

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Yesterday our entry short at 132.040 was unsuccessful

Review: Bank of Japan presses the button… Ÿ EURUSD: Stays above 132.00 but fears are increasing that we are in for fiscal cliff problems (the Republicans have sent the ball into the Democrats’ court). Norway: Norges Bank kept its rate unchanged – the central bank did not issue any news that affected the market to any considerable degree. Japan: The Bank of Japan expanded its programme of asset purchases by JPY 10bn (as expected). The coming prime minister, Shinzo Abe, states: “Bank of Japan

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Correction in the offing?

Forecast for 21st December 2012 Nikkei March contract Nikkei March Futures halted as we approached the 2012 highs at 10200. We warned this is a major level, being the high of the year so far and with the market severely over bought it would be unwise to remain aggressively long at this stage. We advised taking profits even though we are in a very strong bull run as the risk of hitting sellers here was high. This scenario unfolded exactly as predicted and we topped at 10190. We then closed

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

EUROSTOXX 50 (Mar 13) INTRADAY Review The Eurostoxx traded with notably subdued momentum in yesterday’s session and finished the day with a loss of 0.15%. Our yesterday’s neutral entry long at 2,632 proved to be too conservative for the market conditions and was not reached. Strategy While the European economic calendar is light for the upcoming session, the US data will gain more attention. First up, we are expecting the third reading for the US Q3 GDP along with Initial and Continuing

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The EUR/USD started yesterday’s European session

Forecast for 20th December 2012 Spot Euro EURUSD hit our next target at 1.3284 and topped out just above at 1.3308. However we sold off quite sharply from here and are testing support at 1.3207. Watch for a move below 1.3185 to signal continued weakness to good support at 1.3155/45. Exit shorts here and buy in to longs as we look for a low for the day. We do need a stop loss below 1.3120 for 1.3094, possibly 1.3060/45. Exit shorts here again and buy in to longs with a stop below 1.3015. A push

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Spot Euro, E-Mini S&P, Eurostoxx, Dax

USDJPY Bullish Harami Hourly Chart Resistance: 84.17 moderate/84.39 strong/84.62 moderate Support: 83.94 minor/83.71 minor We have a low level bullish reversal pattern in Hourly USDJPY charts, Bullish Harami. Look for a possible technical correction. Consider buys if the pattern is confirmned with stops ideally under 83.94. The immediate objective will be a push for 84.17 break of which opens us to a reversal for a move to the 84.39, the daily Pivot Point. AUDUSD Dark Cloud Cover Hourly Chart

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AUDUSD Dark Cloud Cover Hourly Chart

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