Author Archives: Trade Advantage

USDCAD Evening Star (Doji) Hourly Chart

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Resistance: 0.9938 moderate / 0.9952 minor / 0.9965 minor Support: 0.9925 strong / 0.9911 moderate / 0.9898 minor We have a bullish bias in USDCAD Hourly charts with prices just under a moderate resistance level. Candlesticks show a high level bearish reversal pattern Evening Star (Doji). Consider shorts at market for 0.9925 break of which should see us easing off to 0.9911. Stops should be placed above 0.9938 or the patterns high. For pattern explanation and visual identification rules, click

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USDCAD Evening Star (Doji) Hourly Chart

AU: Company Gross Operating Profits (QoQ): -2.900 %

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Date (GMT) Event Cons. Actual Previous Dec 3 00:30 Company Gross Operating Profits (QoQ) -2.500 % -2.900 % -0.700 % Read the Profits data at ABS News Forex: AUD/USD breaks through 1.04 on disappointing Australian data (FXstreet.com) Mon, Dec 3 2012, 00:47 GMT Australia Company Gross Operating Profits (QoQ) -2.9% in 3Q (FXstreet.com) Mon, Dec 3 2012, 00:31 GMT

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AU: Company Gross Operating Profits (QoQ): -2.900 %

EURUSD Three Outside Down Hourly Chart

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Resistance: 1.3015 moderate/1.3052 minor/1.3090 minor Support: 1.2977 strong/1.2940 moderate/1.2902 minor EURUSD is generally bullish with a high level bearish reversal pattern Three Outside Down in Hourly charts just above a strong support level at 1.2977, the Pivot Point. Look to sell on a push under 1.2977 with stop losses just above the Three Outside Down high. Our immediate objective is 1.2940 break of which may see us dropping to 1.2902. Learn more about the chart patterns and how to

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EURUSD Three Outside Down Hourly Chart

US: Core Personal Consumption Expenditure – Price Index (MoM): 0.100 %

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Date (GMT) Event Cons. Actual Previous Nov 30 13:30 Core Personal Consumption Expenditure – Price Index (MoM) 0.200 % 0.100 % 0.100 % News Forex: AUD/USD challenges 1.0400 on US news (FXstreet.com) Fri, Nov 30 2012, 13:50 GMT US Core PCE – Prices Index (YoY) stays unchanged at 1.6% in Oct and (MoM) steadies at 0.1% (FXstreet.com) Fri, Nov 30 2012, 13:40 GMT

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US: Core Personal Consumption Expenditure – Price Index (MoM): 0.100 %

The currency pair continued its up trend yesterday

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S&P 500 (Dec 12) INTRADAY Review Thanks to more political posturing in Washington our S&P strategy worked well yesterday. Boehner’s comments hit the wires just after the European close when he announced his frustration and disappointment about a lack of progress on the fiscal cliff negotiations and specifically reprimanding the Democrats for not giving any spending cut concessions. This briefly sent eh S&P lower and the sell off bottomed out just under our long entry level at

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The currency pair continued its up trend yesterday

Yen weakening may take a breather

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Review: 130 EURUSD was tested and breached Short-term speculators succeeded in pushing EURUSD above 130.00 and cause a number of stops. Soon after the cross rate fell below the level again (all the way to 129.50), but we are now back again testing the important level at about 130.00-130.35. The Swedish GDP for Q3 offered a positive surprise (0.5% against the expected level of 0.2%). However, due to a steep decline in retail sales (the lowest level for more than a year), SEK weakened. The

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Yen weakening may take a breather