Author Archives: Trade Advantage

NZDUSD Bearish Harami Hourly Chart

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Resistance: 0.8183 minor/0.8200 minor Support: 0.8169 moderate/0.8152 strong/0.8138 moderate We have a low level bearish reversal, Bearish Harami in NZDUSD charts. Market is in an uptrend while the pattern is just above a moderate support at 0.8169. Short on a close below the said price for a push to 0.8152, break of which suggests a reversal for 0.8138. Stops should be placed above the patterns high. Learn more about the chart patterns and how to recognize them in our Learning Center:

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NZDUSD Bearish Harami Hourly Chart

Optimism prior to extraordinary meeting of euro zone finance ministers

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Review: European PMI data marginally better than expected. European PMI data were somewhat of a mixed bag (industry: 46.2 (expected: 45.6) and service: 45.7 (expected 46.0)). The reaction in respect of EUR was positive. Consumer confidence in Europe has fallen to the lowest level since 2009. Stabilisation had been expected. Lower consumer confidence is a long-term problem if the trend prevails. Rumour has it that Cyprus is close to getting a rescue package from the EU/IMF. Reportedly Cyprus

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Optimism prior to extraordinary meeting of euro zone finance ministers

USDCHF Bullish Engulfing Hourly Chart

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XAUUSD Three Outside Up Hourly Chart Resistance: 1734.17 minor/1735.89 minor Support: 1731.83 moderate/1730.11 strong/1727.77 moderate XAUUSD has a bullish bias with Three Outside Up in Hourly charts suggesting a further push higher. As a high level pattern aggressive buys may be taken with 1734.17 as the immediate objective break of which opens the possibility of a run to 1735.89. Stop losses ideally should be placed below 1731.83. Proximity to 1731.83 would be ideal. USDCHF Bullish Engulfing

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USDCHF Bullish Engulfing Hourly Chart