Giuseppe Basile, CSTA/IFTA
FibStalker Trading
Summary: This week the market is not going to be avaricious with opportunities. In the room we reviewed the great long opportunities that materialized last week and for which we are carrying positions.
The EUR/USD is also positioned to move higher and there are two levels in play. The closer level has been already in play on Friday at the EU close, but European desk may want or need a fill during the EU open later on today.
We reviewed silver futures that have pierced their long-term trendlines and and showed how a new set of Algos are trying to keep pushing and maintain this market below the 15.02 level. However above 15.40 silver could go back into the 16.50 level, so better to be on the watch.
I like NDZ/USD on the weekly timeframe and this market has the possibility for a multi-week move up into 0.7520. That would require a lot of time and setups could come in the 0.6550 to 0.6606 levels.
EUR/AUD, is a long-term short and our job will be to identify if daily shorts (1.5890 area) will trade before daily longs (1.5606).
Finally we discussed CAD/JPY based on the positioning of Algos on USD/CAD and USD/JPY and we determined that CAD/JPY would need to show weakness. The chart's technical review confirmed a participation downwards from Algos since beginning of last week at 86.10 with a potential target down at 75.60.
See you tomorrow at the FXS Tokyo Open Room at 8.00PM EST.
~FibStalker
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Come daily to Live Video and chat with experts and traders.
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The EUR/USD is also positioned to move higher and there are two levels in play. The closer level has been already in play on Friday at the EU close, but European desk may want or need a fill during the EU open later on today.
We reviewed silver futures that have pierced their long-term trendlines and and showed how a new set of Algos are trying to keep pushing and maintain this market below the 15.02 level. However above 15.40 silver could go back into the 16.50 level, so better to be on the watch.
I like NDZ/USD on the weekly timeframe and this market has the possibility for a multi-week move up into 0.7520. That would require a lot of time and setups could come in the 0.6550 to 0.6606 levels.
EUR/AUD, is a long-term short and our job will be to identify if daily shorts (1.5890 area) will trade before daily longs (1.5606).
Finally we discussed CAD/JPY based on the positioning of Algos on USD/CAD and USD/JPY and we determined that CAD/JPY would need to show weakness. The chart's technical review confirmed a participation downwards from Algos since beginning of last week at 86.10 with a potential target down at 75.60.
See you tomorrow at the FXS Tokyo Open Room at 8.00PM EST.
~FibStalker
-----
Come daily to Live Video and chat with experts and traders.
-----
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