Giuseppe Basile, CSTA/IFTA
FibStalker Trading
Summary: In the room we reviewed the trades and markets we want to carry into the coming weeks. Particularly USD/JPY and GBP/JPY, with same targets indicated yesterday.
Particularly USD/JPY has now confirmed its target in the 114.80 area. I believe it is only a matter of time and next week or the following we may see prices in the 114.80 area.
We are also very interested in how the USD/CAD will react to the area of large participation higher. Now this market is at the level we mentioned last week, 1.3770 and halted there for now. This could be the start of a multi-week trade into historical highs in the 1.58 area.
It is very important to focus and try to get one or more positions in this market if price does not fall below 1.3538.
We reviewed the Dollar Index ICE futures and we showed that this market has the potential to move all the way into 94.50 area.
The GPD/JPY short has also held well, but this market is relatively stronger than the USD/JPY. It may test 169.60 area for a bounce when/if USD/JPY gets into 114.80.
Finally, as promised yesterday we reviewed NDZ/USD which confirmed weekly longs and is moving higher. It has a potential for much higher prices and could react and renew longs in the 0.6610-30 area in to 0.6730 and 0.6780 targets.
Tomorrow we will review the EUR/USD and AUD/USD and see where we can go from here.
See you at 8.00PM EST
Giuseppe Basile, a.k.a. FibStalker
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Come daily to Live Video and chat with experts and traders.
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Particularly USD/JPY has now confirmed its target in the 114.80 area. I believe it is only a matter of time and next week or the following we may see prices in the 114.80 area.
We are also very interested in how the USD/CAD will react to the area of large participation higher. Now this market is at the level we mentioned last week, 1.3770 and halted there for now. This could be the start of a multi-week trade into historical highs in the 1.58 area.
It is very important to focus and try to get one or more positions in this market if price does not fall below 1.3538.
We reviewed the Dollar Index ICE futures and we showed that this market has the potential to move all the way into 94.50 area.
The GPD/JPY short has also held well, but this market is relatively stronger than the USD/JPY. It may test 169.60 area for a bounce when/if USD/JPY gets into 114.80.
Finally, as promised yesterday we reviewed NDZ/USD which confirmed weekly longs and is moving higher. It has a potential for much higher prices and could react and renew longs in the 0.6610-30 area in to 0.6730 and 0.6780 targets.
Tomorrow we will review the EUR/USD and AUD/USD and see where we can go from here.
See you at 8.00PM EST
Giuseppe Basile, a.k.a. FibStalker
-----
Come daily to Live Video and chat with experts and traders.
-----
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