Author Archives: Trade Advantage

Forecast for 20th December 2012 Hang Seng December contract Hang Seng Futures slowly edging towards a test of Aug 2011 highs at 22843. We would be looking to exit longs here with weekly 78.6% Fibonacci resistance just above at 23061 where we should encounter more aggressive sellers. Support at 22460 then 22322/300 should be a good buying opportunity today.

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

Resistance: 1.6313 minor/1.6358 minor Support: 1.6283 moderate/1.6238 strong/1.6207 moderate We have a low level bearish reversal, Bearish Harami in GBPUSD charts. Market is in an uptrend while the pattern is just above a moderate support at 1.6283. Short on a close below the said price for a push to 1.6238, break of which suggests a reversal for 1.6207. Stops should be placed above the patterns high. USDCHF Three Outside Down Hourly Chart Resistance: 0.9106 moderate/0.9146 strong/0.9168

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GBPUSD Bearish Harami 4-Hour Chart

S&P 500 (Mar 13) INTRADAY Review Our strategy yesterday was to play the range from the long side as we expected the sentiment to remain positive as a result of the meaningful progress made on the Fiscal Cliff negotiations. Our entry level was at the bottom of the morning’s range at 1430.25, however this was breached ahead of the US cash open and the index drifted down towards our stop level at 1425.25. This level provided perfect support and so our stop was not triggered as it was just

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Yesterday’s crude strategy was spot on

Review: The positive sentiment continues …. EURUSD: 132.00 has been breached. A signal that the positive sentiment will still prevail. Sweden: As expected the Riksbank lowered its interest rate by 25 bp. As expected (by us), SEK strengthened on the announcement. Despite the lower growth estimates for 2013 (from 1.8% to 1.2%), there are no prospects of lower interest rates. Europe: Berlusconi is rattling the sabre – he states that he wants the ECB to buy government bonds otherwise Italy may

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We recommend selling USD for the short term

EUROSTOXX 50 (Mar 13) INTRADAY Review The Eurostoxx made new highs for the week in yesterday’s trade, gaining 0.68% on the day. The index traded within 4 prices of our yesterday’s entry long at 2,621 following the consolidation phase during the European morning before firming up in the latter part of the day. Both of our profit targets were reached during the phase of upside momentum. Strategy In the absence of notable macroeconomic data and other known near-term risks, markets remain content

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The Eurostoxx made new highs for the week in yesterday’s trade

Click Chart to Enlarge EUR/AUD is now pushing the 61.8% Fib Retracement on the decline from 1.2825-1.2160 through October and November.

Forecast for 19th December 2012 Hang Seng December contract Hang Seng Futures still holding within Friday’s range to leave the out look mostly unchanged. We tested support at 22437 on Monday and held above here on Tuesday. If we break below look for us to trade down to 22300/289 next. This is good support today so we would be looking for a bounce but if attempting longs we will need a stop below 22228 for 22169 and quite possibly better support at 22066/048. A break above last week’s high at

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

1minute with ForexSurvivor Latest impact: Dollar Low Un-Fini Dollar Index is showing no sign of reversing its downtrend yet; therefore, its current price (7950) plus any rally towards 7970 are sellable targeting the triple bottom @ 7850. Only a close above 8055 negates the bearish stance. In parallel, EURUSD Sky limit has not been sealed yet.

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Dollar Low Un-Fini

EUROSTOXX 50 (Mar 13) INTRADAY Review Despite the Eurostoxx starting yesterday’s session on the back foot, the short-term correction terminated at last Thursday’s lows which provided sufficient support to enable price to gain upward traction in the second half of the session. Our yesterday’s strategy neutral entry long worked out well and our first profit target was reached as the index retraced the morning’s losses to finish the session with a gain of 0.46%. The only notable data release of

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The economic calendar will be light for the session ahead