Author Archives: Trade Advantage

The currency pair made an impressive sell off yesterday

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S&P 500 (Dec 12) INTRADAY Review We had the right idea with the strategy report yesterday in that we expected a tight range bound session and we had a long bias. Our main entry level at 1401.50 was not obtained and more aggressive entries at 1404 worked well with the US session high being just a few ticks short of our second profit target. The Jobless Claims showed a better than expected figure which suggests the temporarily negative effects from Hurricane Sandy have now worked their way

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The currency pair made an impressive sell off yesterday

DE: Industrial Production s.a. (MoM): -2.600 %

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Date (GMT) Event Cons. Actual Previous Dec 7 11:00 Industrial Production s.a. (MoM) -0.500 % -2.600 % -1.300 % Read the full report at Statistisches Bundesamt News Forex: EUR/USD muted after German data, at 1.2920/30 (FXstreet.com) Fri, Dec 7 2012, 11:14 GMT Germany: Annual Industrial Production declines further in October (FXstreet.com) Fri, Dec 7 2012, 11:10 GMT Germany Industrial Production s.a. (MoM) down to -2.6% in Oct from -1.3% in Sep. (YoY) -3.7% vs. -0.8%. (FXstreet.com) Fri, Dec 7 2012, 11:04 GMT

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DE: Industrial Production s.a. (MoM): -2.600 %

50/50 probability that EURUSD will continue to fall

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Review: The US: Jobless claims came out at 370K, which was slightly below the expected level and hence a positive signal in respect of the job report to be issued today. The Bank of England maintained its interest rate at the record low level of 0.5%. As expected in the market, no further purchases were announced. What happened at the ECB interest-rate meeting: The ECB maintained its rate at 0.75%. The decision to maintain the rate unchanged was a consensus decision, i.e. a few members

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50/50 probability that EURUSD will continue to fall

UK: Consumer Inflation Expectations: 3.500 %

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Date (GMT) Event Cons. Actual Previous Dec 7 09:30 Consumer Inflation Expectations 3.500 % 3.200 % Read the official release from BoE News UK: Consumer Inflation Expectations up 3.5% (FXstreet.com) Fri, Dec 7 2012, 10:02 GMT Forex: GBP/USD extends decline post data (FXstreet.com) Fri, Dec 7 2012, 09:51 GMT United Kingdom Consumer Inflation Expectations: 3.5% (FXstreet.com) Fri, Dec 7 2012, 09:39 GMT Forex: GBP/USD unchanged around 1.0650; UK, US data eyed (FXstreet.com) Fri, Dec 7 2012, 05:50 GMT

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UK: Consumer Inflation Expectations: 3.500 %

The EUR/USD finished yesterday’s session with a loss of 0.85%

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EUROSTOXX 50 (Dec 12) INTRADAY Review The Eurostoxx once again made new highs for the year in yesterday’s early morning trade as markets took note of comments from van Rompuy regarding the upcoming work on the banking union in 2013. However, the index found it difficult to maintain a sustainable direction throughout the session, remaining range-bound at the highs and finishing the session with a gain of 0.65%. Our yesterday’s neutral entry long at 2,580 was not reached. Strategy The

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The EUR/USD finished yesterday’s session with a loss of 0.85%

Short Sterling and Fixed Income Signals

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Short Sterling March 13 Resistance at 99.47 then 99.50. Above 99.51 look for 99.54/55 high. Support at 99.42 then 99.39/98 be- fore 99.35. June 13 support at 99.42 with a break of 99.41 to target 99.38 then 99.34 below. Resistance at 99.46/47 then 99.50/51 before highs of 99.54/55. Sept 13 resistance at 99.46 then 99.50/51 before 99.55 highs. A break higher sees 99.57/58 then 99.60/61. Support at 99.41 then 99.39 and 99.37/36 below. Failure here risks a test of 99.32. Dec 13 resistance at

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Short Sterling and Fixed Income Signals

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

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Forecast for 7th December 2012 Spot Euro Euro took a tumble as predicted and has hit our target of 1.2949. We suggested taking profit on shorts here with the chance of a low for the day and indeed this has been the exact low for the move. Longs here need a stop below 1.2935 in case of further weakness as a break lower could then keep the pressure on for 1.2894 and if this fails to hold we look for 1.2839 as the next target. It is likely we see a floor here if we fall this far so exit any

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