Giuseppe Basile, CSTA/IFTA
FibStalker Trading
Summary: in the current market juncture the USD/JPY is going to be the most respected story teller. We are looking for this market to find resistance at 116.30 or 118.40 two levels that is important to investigate carefully if the market prices get there.
The EUR/USD, lost support from bulls in extension and is accordingly correcting into any of 1.1080 or 1.0960.
We had a look a the relation between S&P500 and USD/JPY, and if risk-off is confirmed, these two markets are going to find relative highs at the same time.
A comparison between GBP/JPY and USD/JPY has also been made, with USD/JPY showing the most technical and clean setup at this stage.
The AUD/USD is still below resistance at 0.7180. This could all change if the USD starts moving lower compared to Euro and higher compared to Yen. A test of the 200ma is only possible if market moves above 0.7263.
Finally the USD/CHF, could also be finding relative highs at this point, and a safe level to exit longs is the 0.9905 area.
See you tomorrow for another session with FibStalker.
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Come daily to Live Video and chat with experts and traders.
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The EUR/USD, lost support from bulls in extension and is accordingly correcting into any of 1.1080 or 1.0960.
We had a look a the relation between S&P500 and USD/JPY, and if risk-off is confirmed, these two markets are going to find relative highs at the same time.
A comparison between GBP/JPY and USD/JPY has also been made, with USD/JPY showing the most technical and clean setup at this stage.
The AUD/USD is still below resistance at 0.7180. This could all change if the USD starts moving lower compared to Euro and higher compared to Yen. A test of the 200ma is only possible if market moves above 0.7263.
Finally the USD/CHF, could also be finding relative highs at this point, and a safe level to exit longs is the 0.9905 area.
See you tomorrow for another session with FibStalker.
-----
Come daily to Live Video and chat with experts and traders.
-----
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