Giuseppe Basile, CSTA/IFTA
FibStalker Trading
Summary: We reviewed the EUR/USD that has not held the 1.1080, after offering a risk-free trade and it is now correcting into the next support level in the 1.0960 area.
A full review of EUR/AUD was offered and we showed why this market is not a long, but a short. A potential setup for an extension short has been given during the room.
NZD/USD is still a long despite recent weakness. The first target of current move that saw participation at 0.6550 is still around 300 pips above.
We celebrated GBP/JPY getting to the 156.40 target mentioned in the last few weeks. Price started a profit taking reaction higher 8 pips below that level.
GBP has been weak on the whole board for fear of BREXIT, with GBP/USD also now close to the 1.3945 target level which is going to be touched overnight or tomorrow.
We discussed the reasons why most traders lose in the markets and had a great participation in the room.
We then turned our attention to USD/JPY which has been less weaker than GBP/JPY. This market is still completing the 121 move lower and I think it will often offer a continuation lower.
Finally we closed with Silver and Gold which are moving on top of extension support levels that are ready to be retested, before a general continuation higher,
We also showed the timing on Gold using the analysis in the lower timeframe by applying the Continuation Style.
See you tomorrow for a new session.~FibStalker
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Come daily to Live Video and chat with experts and traders.
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A full review of EUR/AUD was offered and we showed why this market is not a long, but a short. A potential setup for an extension short has been given during the room.
NZD/USD is still a long despite recent weakness. The first target of current move that saw participation at 0.6550 is still around 300 pips above.
We celebrated GBP/JPY getting to the 156.40 target mentioned in the last few weeks. Price started a profit taking reaction higher 8 pips below that level.
GBP has been weak on the whole board for fear of BREXIT, with GBP/USD also now close to the 1.3945 target level which is going to be touched overnight or tomorrow.
We discussed the reasons why most traders lose in the markets and had a great participation in the room.
We then turned our attention to USD/JPY which has been less weaker than GBP/JPY. This market is still completing the 121 move lower and I think it will often offer a continuation lower.
Finally we closed with Silver and Gold which are moving on top of extension support levels that are ready to be retested, before a general continuation higher,
We also showed the timing on Gold using the analysis in the lower timeframe by applying the Continuation Style.
See you tomorrow for a new session.~FibStalker
-----
Come daily to Live Video and chat with experts and traders.
-----
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