Author Archives: Trade Advantage

NZDUSD High Wave Doji (Bear) Hourly Chart

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Resistance: 0.8268 minor/0.8297 minor Support: 0.8252 moderate/0.8223 strong/0.8207 moderate We have a High Wave Doji (Bear) in Hourly NZDUSD charts. Market is in an uptrend while our moderate bearish reversal pattern is just above a moderate support 0.8252. We need a close below the said price before selling the immediate target at 0.8223 break of which suggests a reversal is ongoing. Stops above the patterns high. Learn more about the chart patterns and how to recognize them in our Learning

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NZDUSD High Wave Doji (Bear) Hourly Chart

EMU: Business Climate: 1.190

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Date (GMT) Event Cons. Actual Previous Nov 29 10:00 Business Climate -1.600 1.190 -1.610 Read the full report at European Commission News EMU: Business Climate improves to 1.19 in November (FXstreet.com) Thu, Nov 29 2012, 10:23 GMT EU Nov Business Climate up to 1.19 vs -1.61 in Oct. (FXstreet.com) Thu, Nov 29 2012, 10:09 GMT EU Nov Industrial Confidence up to -15.1 from -18.3 in Oct (FXstreet.com) Thu, Nov 29 2012, 10:09 GMT EU: Nov Economic Sentiment Indicator up to 85.7 from 84.3 in Oct (FXstreet.com) Thu, Nov 29 2012, 10:08 GMT EU Nov Services Sentiment improves to -11.9 vs -12.1 in Oct. (FXstreet.com) Thu, Nov 29 2012, 10:08 GMT

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EMU: Business Climate: 1.190

We expect short-term appreciation of TRY

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Review: Beige Book reveals great concerns about fiscal cliff. Warren Buffett: He expects a solution to the fiscal cliff problems – yet only at the last minute. If Buffett is proven right, we will see increasing market volatility in December. Revealing an increase of 3.1% against the expected 2.8%, the EU M3 data offered a positive surprise. The Bank of Spain indicated that Spain will see lower growth in Q4 than expected until now, which will turn the market’s focus from Greece to Spain. Will

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We expect short-term appreciation of TRY

The EUR/USD continued to trade lower in yesterday’s European session

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EUROSTOXX 50 (Dec 12) INTRADAY Review The Eurostoxx started yesterday’s session with a downbeat tone at the lows of the week. However, the mild selling pressure observed throughout Tuesday’s session did not gain continuation in yesterday’s trade, allowing the index to recover off the lows during the latter part of the session. Our yesterday’s entry short at 2,542 was invalidated following optimistic comments from speaker Boehner on a deal that surrounding the fiscal cliff. Strategy While

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The EUR/USD continued to trade lower in yesterday’s European session

EURUSD Bearish Engulfing Hourly Char

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USDCHF Bullish Engulfing Hourly Chart Resistance: 0.9307 strong/0.9324 moderate/0.9358 minor Support: 0.9273 moderate/0.9255 minor/0.9221 minor Market bias for USDCHF is bearish with prices under a strong resistance at 0.9307. Hourly candlesticks however have a mid level reversal pattern, Bullish Engulfing. Look for a close above the Pivot Point, 0.9307, for a run to 0.9324 with stop losses just below the patterns low. Break of 0.9324 could lead to a market rally for 0.9358.

CH: Gross Domestic Product (YoY): 1.400 %

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Date (GMT) Event Cons. Actual Previous Nov 29 06:45 Gross Domestic Product (YoY) 0.900 % 1.400 % 0.300 % Read the official data at the Federal Statistical Office News Forex: USD/CHF capped by 0.9300 after Swiss GDP (FXstreet.com) Thu, Nov 29 2012, 07:35 GMT Switzerland: GDP grows more than expected in Q3 (FXstreet.com) Thu, Nov 29 2012, 07:00 GMT Switzerland: 3Q Gross Domestic Product (YoY) up 1.4%; (QoQ) grows 0.6% (FXstreet.com) Thu, Nov 29 2012, 06:47 GMT

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CH: Gross Domestic Product (YoY): 1.400 %

AU: Private Capital Expenditure: 2.800 %

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Date (GMT) Event Cons. Actual Previous Nov 29 00:30 Private Capital Expenditure 2.000 % 2.800 % 3.400 % Read the Capex data at ABS News Forex Flash: Odds of a December RBA cut closer to if not above 50% – NAB (FXstreet.com) Thu, Nov 29 2012, 03:04 GMT Australia: Q3 CAPEX rises 2.8%, above consensus (FXstreet.com) Thu, Nov 29 2012, 00:43 GMT Australia: Private Capital Expenditure (3Q): 2.8% (FXstreet.com) Thu, Nov 29 2012, 00:30 GMT Reports Asia Session: CAPEX data unlikely to influence the RBA’s decision (FOREX.com) Thu, Nov 29 2012, 05:09 GMT

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AU: Private Capital Expenditure: 2.800 %

The currency pair had a decent down day yesterday

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S&P 500 (Dec 12) INTRADAY Review It was a mixed session yesterday with decent movement in both directions. Our strategy report had a long bias with an entry at 1401 and a first profit target at 1397.25. This worked perfectly at the US cash open as the index bounced off our entry level and pushed to find resistance at our profit target just prior to the Consumer Confidence data. The data was then released better than expected and extended the 4.5 year high for this reading. Along with

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The currency pair had a decent down day yesterday

We recommend that investors sell GBP against USD

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Review: Will the fiscal cliff situation not be resolved until February? Swedish consumer as well as industrial confidence fell steeply. SEK weakened by 0.91% against EUR. In the UK, the 1st revision of Q3 GDP did not offer any surprises. The US economic indicators generally offered positive surprises. Durable goods rose by 1.5% (estimate: -0.5%), the Richmond production index rose to 9 (estimate: -7), home prices rose by 0.2% in September (estimate: 0.4%) and consumer confidence rose to 73.7

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We recommend that investors sell GBP against USD