Author Archives: Trade Advantage

S&P 500 (Dec 12) INTRADAY Review There was a nice V shape to yesterday’s session in what was a very low volume day. Initially in the European morning the E-mini S&P drifted lower as a result of Italian political risk but the index bottomed out just above Friday’s low a pushed back up to make new highs following the US cash open. This meant that our neutral short strategy has a too aggressive entry level as the top of the range came at 1421 before the market drifted back lower to close

View original here: 
There was a nice V shape to yesterday’s session

Resistance: 0.9880 moderate/0.9896 minor/0.9905 minor Support: 0.9871 strong/0.9854 moderate/0.9846 minor Overall bias in USDCAD is bullish with the Hammer just above a strong support level. Though a low level bullish reversal candlestick pattern, given the strong support consider taking a buy with 0.9880 as the immediate target, possibly further on to 0.9896. A stop loss should be placed below 0.9871, the Pivot Point. The prudent course of action is to look for a confirming big white

Go here to see the original: 
USDCAD Hammer Hourly Chart

Forecast for 11th December 2012 Spot Euro Euro just held on to 1.2894 support. Resistance seen at 1.2849 and this may hold a bounce today but if we do push higher look for 1.3017/27 as the next target. Take profit on longs and try shorts with a stop above 1.3045. A push through here may then target 1.3085. However the one and a half year downtrend has clearly resumed and on a break of 1.2875 we look for 1.2839 as the next target. It is possible we see a floor here for today if we fall this far

See more here:
Spot Euro, Eurostoxx, E-Mini S&P, FTSE 100, Dax, Hang Seng CE Index, Hang Seng, Straits Times

Review: USA Rumour has it that the Republicans and the Democrats are close to an agreement. The S&P maintained Canada’s AAA rating, which is an indicator that USDCAD will trade below 100 over the coming period. The EU Italy: Monti does not rule out that he will stand as a candidate after all. He also stated that Italy is not in a political crisis, which is good news as any escalation of the political unrest in Italy may have a negative effect on EUR prior to the election in Feb/March. The

View original post here:
EURSEK – consolidation will end soon

EUROSTOXX 50 (Dec 12) INTRADAY Review Risk assets initially reacted with caution following hints of resignation from Mario Monti over the weekend, with the Eurostoxx selling off to pare all of last week’s gains during the initial part of yesterday’s session. Despite the lingering uncertainty, the price was able to stabilise at the 23rd November high and the index was able to rally in the afternoon trade to pare the majority of the losses for the day. Our yesterday’s strategy entry short at

See the rest here: 
The EUR/USD failed to break the 1.2900 handle

Resistance: 1.0520 moderate/1.0555 minor/1.0594 minor Support: 1.0480 strong/1.0446 moderate/1.0406 minor We have a medium credibility pattern Bullish Engulfing in 4-Hour charts. Though ideally this needs a confirmation before trading, with prices just above a strong support consider buys off 1.0480, the Pivot Point. Stop losses can be placed just under the said price or alternatively the pattern low if beneath the Pivot Point. Learn more about the chart patterns and how to recognize them in

Original post:
AUDUSD Bullish Engulfing 4-Hour Chart

S&P 500 (Dec 12) INTRADAY Review Our strategy on Friday was invalidated by the better than expected Non-Farm Payrolls number that came in at 146k Vs 85k expected. However, the numbers for October were revised down by 49k. The S&P had a typically mixed response to this news with first a 14 point spike that topped out at 1422.25 before a 100% retracement of this bullish move over the subsequent 2.5 hours. The index recovered into the close to finish at 1416 which was the highest close

Original post: 
The currency pair was trading in a similar pattern

Review: China Over the weekend the distribution of the economic indicators resulted in a ‘tie’. Industry and retail sales data were strong, but exports (2.9% as compared to the expected 9%) and investments offered nasty surprises. We are particularly concerned about the weak investment level as investments account for about 48% of GDP and therefore they are important to secure economic growth. EU Italy: PM Monti will resign when the budget is approved. This means that a general election will

See the rest here: 
BUY EURUSD on setbacks

EUROSTOXX 50 (Dec 12) INTRADAY Review The Eurostoxx remained confined within last Thursday’s trading range in Friday’s session and finished the day with a loss of 0.34%. Our Friday’s neutral entry long at 2,597 was reached but provided limited value ahead of the US Nonfarm Payrolls data. November Payrolls headline came in at 149k vs. prev. 85k and Private Payrolls registered at 147k vs. exp. 90k. The unemployment rate, however, declined once again from 7.9% to 7.7% primarily due to diminishing

Excerpt from: 
EUR/USD continued to trade lower throughout most of Friday’s session