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  1. #1
    Administrator Martin Kay's Avatar

    Hot Tip from the Geek - SP500, EUR/USD, USD/JPY Weekly Expire - 13-20/05/2013 !!!

    Hi guys,

    The new Top Five Tips of the week from Michael are ready for you! The markets are starting this week positively. After the last round of fiscal easing is done the market participants will focus on the fundamentals again. Check out the new Michael’s tips and find out the best opportunities to trade!

    Originaly posted by Michael Hodges.

    S&P 500 Consolidating Above 1600 - Trade Active on CommuniTraders

    S&P 500
    Call/Put = Call
    Entry = Below 1630
    Expiration = One Week

    The charts of weekly closing prices is showing a strong buy according to my favorite technical indicators. The daily charts are strongly bullish, peaking after the recent break to all-time high prices. The near term charts are suggesting another buy signal is forming on this chart as well. The fact that prices have remained at this elevated level without a pullback while the indicators are softening is indicative of this signal. I remain bullish on the index and do not foresee a catalyst for reversal in the next few weeks.

    There is a lot of data coming out this week so it may be turbulent. There may be a weak point here or there but I am expecting the overall trend to remain one of improvement. There are over 25 U.S. economic reports and another several dozen from around the world. The U.S. reports are dominated by housing figures ranging from starts to building permits and Housing Index. I am trading calls on the S&P 500 with a target entry below 1630 and an end of the week expiration. Patient traders may be able to get in below 1625.




    Euro Weakened By ECB Rate Cut- Trade Active on CommuniTraders

    EUR/USD
    Call/Put = Put
    Entry = Above 1.297
    Expiration = One Week

    The recent rate cut by the ECB is good for the EU economy and should help spur it back into growth. In the near term it is weakening the euro versus the dollar. Adding to the pressure is a strengthening U.S. economy. The long term indicators are still bearish and the near term is indicated down. I am trading puts on the EUR/USD with a target entry above 1.2970 and a one week expiration.



    The Japanese Economic Orchestra, Conducted By Shinzo Abe- Trade Active on CommuniTraders

    USD/JPY
    Call/Put = Put
    Entry = Above 101.75
    Expiration = End Of The Week

    The long term charts of the USD/JPY are bullish but in decline. This is matched on the daily charts with a potential divergence from indicators. Together these two charts would signal a blaring sell signal but with the move orchestrated by Abe and Kuroda this chart may not perform exactly as expected. I am trading a one week put of the USD/JPY in expectation of a pullback but I remain bullish on this trade longer term.


  2. #2
    Senior Member LeeChang's Avatar
    I think that finally we will see a correction in USD/JPY. EUR/USD is with negative outlook after the rate cut, but some surprises are not excluded. The trend in SP500 is still intact so also good strategy to enter on the pullbacks there.

  3. #3
    Legendry Member Michael Hodges's Avatar
    there may be a yen correction but I will not bet on it being very big, I am not expecting to see sub 100 level yen versus the dollar again any time soon.

  4. #4
    M.J
    M.J is offline
    Veteran Member M.J's Avatar
    Eur/usd has crossed major support level last week and this week it will most probably be bearish. I am expecting it to go to 1.2747.
    For usd/jpy, waiting for breakout. I think breakout will occur in favor of bulls. Pair is likely to go upward after recent range-bound movements. Even though, I agree that, on daily chart, bearish trend is expected this week. But I think due to fundamentals, pair will continue its upward trend. After preliminary GDP release from Japan, tomorrow, which will definitely determine direction of this pair.

  5. #5
    Rookie Member
    Hello , i have a question , if the usd/jpy breaks through , R1: 102.633 , buy a put of one hour would be a good idea?

  6. #6
    Specialist Member runneroption's Avatar
    Quote Originally Posted by Michael Hodges View Post
    there may be a yen correction but I will not bet on it being very big, I am not expecting to see sub 100 level yen versus the dollar again any time soon.
    Yes, the Up trend is still intact and I don’t think 102.63 will act as a resistance too. The way of the USD/JPY pair is only up in the near term.

  7. #7
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by Gsrus View Post
    Hello , i have a question , if the usd/jpy breaks through , R1: 102.633 , buy a put of one hour would be a good idea?
    I don't use pivot points so I can't really make a call on your trade idea. I also had a bearish trade on for this week but it doesn't look likely to finish in the money. The long term trend on the usd/jpy is down.

  8. #8
    M.J
    M.J is offline
    Veteran Member M.J's Avatar
    Quote Originally Posted by Michael Hodges View Post
    I don't use pivot points so I can't really make a call on your trade idea. I also had a bearish trade on for this week but it doesn't look likely to finish in the money. The long term trend on the usd/jpy is down.
    That is correct. Technically, Usd/jpy has entered in space and I think it is time for "back to earth" mission. Today it reversed on bad u.s data. As long as fundamentals support this pair, it will remain bullish.

  9. #9
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by M.J View Post
    That is correct. Technically, Usd/jpy has entered in space and I think it is time for "back to earth" mission. Today it reversed on bad u.s data. As long as fundamentals support this pair, it will remain bullish.
    There is hot yen conversations all over the forums today. This currency is going down versus other world currencies. The economy of Japan has been in depression for over 20 years, the G7 so far support their efforts, expect to see usd/jpy 105, 110 and 120 in the coming months and year.

  10. #10
    Senior Member LeeChang's Avatar
    Quote Originally Posted by Michael Hodges View Post
    There is hot yen conversations all over the forums today. This currency is going down versus other world currencies. The economy of Japan has been in depression for over 20 years, the G7 so far support their efforts, expect to see usd/jpy 105, 110 and 120 in the coming months and year.
    Hi Michael,

    The discussion around the Yen is continuing without rest all over the net last few months. All this hype is pushing the price higher and higher. The most important factor for the steady devaluation of the Yen is the support from the G7 and IMF for the Japanese politics. If some doubt about the decisions made by Japanese politics appear in the air, this could immediately turn the coin on the other side. Hopefully there is very little chance this will happen next several months and we probably will see levels up to 110 in usd/jpy.

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