Author Archives: Trade Advantage

Resistance: 0.9843 strong/0.9861 moderate/0.9873 minor Support: 0.9830 moderate/0.9812 minor/0.9799 minor Three Outside Down is just under the pivot point at 0.9843 in Hourly USDCAD charts. With a combination of a high level bearish pattern and a strong resistance consider shorting at market the immediate objective at 0.9830 break of which should see us move to 0.9812. Stop loss should be placed above 0.9843.

S&P 500 (Mar 13) INTRADAY Review On Friday our aim was to follow the medium term trend in the S&P 500 lower and enter short at the high of the overnight session 1419.25. We called the trend correctly but unfortunately our entry was too prudent and our second target of 1409.75 was reached shortly after publication. The S&P traded in a tight range close to the lows as it headed into the close, as concerns over the fiscal cliff kept optimism at bay into the weekend. Overnight, we have

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The S&P traded in a tight range close to the lows

Review: Japan: The opposition party LDP and Shinzo Abe won a landslide victory at the parliamentary elections in Japan. As a matter of fact, LDP and LDP’s supporting party (Komeito) gained a sufficient majority in the lower house to be able to overrule the upper house. Already on Thursday, the Bank of Japan (BoJ) will have its interest-rate meeting. Both we and practically all other analysts expect further easing measures. The reason is not least the dismal Tankan report issued on Friday. The

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Landslide victory in Japan results in good sentiment and weakening of JPY

Resistance: 1.0558 moderate/1.0588 minor/1.0613 minor Support: 1.0533 strong/1.0503 moderate/1.0478 minor AUDUSD is generally bullish with a high level bearish reversal pattern Three Inside Down in Hourly charts just above a strong support level at 1.0533, the Pivot Point. Look to sell on a push under 1.0533 with stop losses just above the Three Inside Down high. Our immediate objective is 1.0503 break of which may see us dropping to 1.0478. Learn more about the chart patterns and how to

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AUDUSD Three Inside Down Hourly Chart

EUROSTOXX 50 (Mar 13) INTRADAY Review The final session of last week entailed little trading momentum for the Eurostoxx, with the index trading within a tight range to finish the day flat. Our Friday’s neutral entry short at 2,632 was not reached. With the exception of the Japanese election on Sunday, which, as expected, resulted in a win for the LDP party, developments on the news front over the weekend have been relatively muted. With key scheduled European developments over for the year,

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The US currently poses the largest risk factor to market stability

Spot Euro Euro broke the one and a half year down trend on Friday as we pushed through the Sept highs at 1.3172. If we can hold above 1.3150 this week we can run up to the May high at 1.3284. A push through here would then target the April high at 1.3381/86. It is entirely possible that we reach as far as the 100 week moving average at 1.3400 and possibly the 50 Fibonacci target of 1.3491. Support if we see some profit taking is at 1.3117 then 1.3072/65 which should be a good buying

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

Forecast for 17th December 2012 Hang Seng CE Index December contract Hang Seng China Enterprises Futures did break above 11200 as well as the 200 week moving average, to give bulls the confidence to embark on a fresh buying spree and target 11318/321. We closed around here having reached 11382 during the session. No point in fighting the trend despite being drastically over bought and so above last week’s high of 11382 we can stretch to 11424, possibly as far as 11567. Support at 11255 then

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

Resistance: 0.9196 minor/0.9216 moderate/0.9245 strong Support: 0.9166 minor The 4-Hour USDCHF chart has a low level bearish pattern, Bearish Harami. Though we are in a bear market price action is already overextended. New positions should be avoided while open sells should have their stops tightened to just above the pattern high. Learn more about the chart patterns and how to recognize them in our Learning Center: Japanese Candlesticks – A Way To Look At Prices

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USDCHF Bearish Harami 4-Hour Chart

USDCHF High Wave Doji (Bull) Hourly Chart Resistance: 0.9166 minor / 0.9196 minor / 0.9216 moderate Support: well below forecasted values Overall trend in USDCHF is bearish though Hourly charts appear to be overextend. With a mid level reversal pattern, High Wave Doji (Bull) we risk a technical correction though this is likely to be limited to 0.9166. The prudent course of action is to remain sidelined. For pattern explanation and visual identification rules, click here.

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USDCHF High Wave Doji (Bull) Hourly Chart