Giuseppe Basile, CSTA/IFTA
FibStalker Trading
Summary:
The EUR/USD has pierced the area of participation long and could now slide all the way into 1.05 lows. Next area of participation short comes at 1.09 with targets below.
USD/JPY in the mean time is moving higher on "hopes" injected in the markets by 3 of the largest Japanese banks. Algos are still projecting lower levels into 100.70 and resistance at 116.30 or 118.40.
AUD/JPY, AUD/USD and EUR/AUD are anticipating further strenght in the Australian dollar with Algos very well placed since with positions on the long side in the last 3 weeks on both the daily and weekly timeframes.
Finally we mentioned the S&P500 which has been pushing strongly higher, is trading in extensions on the daily and ready to move into 2,003 area.
See you tomorrow.
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