Giuseppe Basile, CSTA/IFTA
FibStalker Trading
Summary: USD/JPY continue lower as anticipated and now at 200 pips from target. Tomorrow target could be hit during the reaction to NFP news. GPY/USD is also very close to its short-term target at 169.50 which we mentioned at the beginning of the week.
After testing 169.50 tomorrow, we could witness a bounce from those levels again into 170.40.
I commented on the great opportunity in the USD/CAD that has broken the H4 shorts within the area of weekly participation long. At this stage I am carrying 2 risk-free trades long. There is an opportunity for a multi-month 2,100 pips move higher into 1.5860!
We looked at the EUR/USD which is now finally outside the lateral move seen in the last 2 months. On large timeframes the EUR/USD has potential to move higher up to 1.22, in a multi-month move.
In the room we also showed an example of application of the timing with the Continuation Style applied to recent breakout of the EUR/USD.
We closed, reminding that NZD/USD could offer a series of good long opportunities and trade into 0.7520 area, 900 pips higher.
Enjoy your weekend and see you on Sunday at 8.00PM EST.
-----
Come daily to Live Video and chat with experts and traders.
-----
After testing 169.50 tomorrow, we could witness a bounce from those levels again into 170.40.
I commented on the great opportunity in the USD/CAD that has broken the H4 shorts within the area of weekly participation long. At this stage I am carrying 2 risk-free trades long. There is an opportunity for a multi-month 2,100 pips move higher into 1.5860!
We looked at the EUR/USD which is now finally outside the lateral move seen in the last 2 months. On large timeframes the EUR/USD has potential to move higher up to 1.22, in a multi-month move.
In the room we also showed an example of application of the timing with the Continuation Style applied to recent breakout of the EUR/USD.
We closed, reminding that NZD/USD could offer a series of good long opportunities and trade into 0.7520 area, 900 pips higher.
Enjoy your weekend and see you on Sunday at 8.00PM EST.
-----
Come daily to Live Video and chat with experts and traders.
-----
The content provided through the FibStalker brand and websites is property of Giuseppe Basile and any views or opinions expressed herein are those solely of Giuseppe Basile. The information provided is for educational purposes only, so it should be used at own risk. Giuseppe Basile is not a broker-dealer, legal advisor, tax advisor, accounting advisor or investment advisor of any kind, and does not recommend or advise on the suitability of any trade or investment, nor provide legal, tax or any other investment advice. Release of Liability: Through viewing or using the information in the FibStalker websites, and other sites you agree to hold Giuseppe Basile, 8762538 Canada Inc., FXStreet, and any websites and connected operators, harmless and to completely release them from any and all liabilities due to any and all loss (monetary or otherwise), damage (monetary or otherwise), or injury (monetary or otherwise) that you may incur.
Recommended Content
Editors’ Picks
EUR/USD fluctuates near 1.0700 after US data
EUR/USD stays in a consolidation phase at around 1.0700 in the American session on Wednesday. The data from the US showed a strong increase in Durable Goods Orders, supporting the USD and making it difficult for the pair to gain traction.
USD/JPY refreshes 34-year high, attacks 155.00 as intervention risks loom
USD/JPY is renewing a multi-decade high, closing in on 155.00. Traders turn cautious on heightened risks of Japan's FX intervention. Broad US Dollar rebound aids the upside in the major. US Durable Goods data are next on tap.
Gold stays in consolidation above $2,300
Gold finds it difficult to stage a rebound midweek following Monday's sharp decline but manages to hold above $2,300. The benchmark 10-year US Treasury bond yield stays in the green above 4.6% after US data, not allowing the pair to turn north.
Worldcoin looks set for comeback despite Nvidia’s 22% crash Premium
Worldcoin price is in a better position than last week's and shows signs of a potential comeback. This development occurs amid the sharp decline in the valuation of the popular GPU manufacturer Nvidia.
Three fundamentals for the week: US GDP, BoJ and the Fed's favorite inflation gauge stand out Premium
While it is hard to predict when geopolitical news erupts, the level of tension is lower – allowing for key data to have its say. This week's US figures are set to shape the Federal Reserve's decision next week – and the Bank of Japan may struggle to halt the Yen's deterioration.