Giuseppe Basile, CSTA/IFTA
FibStalker Trading
Summary: In the room today we showed and commented on some of the risk-free trades obtained by the markets including AUD/USD and USD/JPY shorts.
EUR/AUD and AUD/USD trading in lockstep and judging from how Algos have been positioning on EUR/AUD today the news on AUD at 10.30PM EST could be positive against the Euro (but negative against the US dollar?). We cannot anticipate anything about how the markets will react to news so we will need to wait and see.
We touched on the USD/CAD and if price is going to find participation by weekly and monthly Algos at 1.3770, this market could start a multi-month move higher, an opportunity of 1,800 pips (give or take) into the 1.60 level.
Manufacturing and consumer companies buying in US dollars are seriously setting funds aside on projects in Toronto and Canada, to hedge for a higher USD. Technicals are also suggesting higher prices.
Participants have asked for a review of the GBP/USD with weekly targets at 1.3950 area and a looming short once the push higher has exhausted itself. The inter-European play EUR/GBP, on the other hand, is in a move higher with support at 0.7530 with target in the 0.7880 area.
See you tomorrow at 8.00PM EST in the Tokyo Session Open room.
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Come daily to Live Video and chat with experts and traders.
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EUR/AUD and AUD/USD trading in lockstep and judging from how Algos have been positioning on EUR/AUD today the news on AUD at 10.30PM EST could be positive against the Euro (but negative against the US dollar?). We cannot anticipate anything about how the markets will react to news so we will need to wait and see.
We touched on the USD/CAD and if price is going to find participation by weekly and monthly Algos at 1.3770, this market could start a multi-month move higher, an opportunity of 1,800 pips (give or take) into the 1.60 level.
Manufacturing and consumer companies buying in US dollars are seriously setting funds aside on projects in Toronto and Canada, to hedge for a higher USD. Technicals are also suggesting higher prices.
Participants have asked for a review of the GBP/USD with weekly targets at 1.3950 area and a looming short once the push higher has exhausted itself. The inter-European play EUR/GBP, on the other hand, is in a move higher with support at 0.7530 with target in the 0.7880 area.
See you tomorrow at 8.00PM EST in the Tokyo Session Open room.
-----
Come daily to Live Video and chat with experts and traders.
-----
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