Giuseppe Basile, CSTA/IFTA
FibStalker Trading
Summary:
There are several levels in play to be tested this week that could tell what kind of participation we are going to get from Algos, in different timeframes, up or down in a few markets.
We reviewed EUR/GBP and showed how weekly Algos have participated on the downside defending the .07880 area. This market should not continue higher and any test of the 0.7826-48 area could bring new shorts in.
The S&P500 is in profit taking mode that should bring price to a test of 2,020. A big week for the Dollar Index that may tell the story of the equity indexes, Euro and Japanese yen when the 94.30 is tested again for the 6th time in the last year.
Silver in a sequence of moves higher in all time frames, while Gold appears to be moving laterally, correcting in time rather than price.
For the EUR/USD, the 1.1230 area could find new participation higher for a continuation into 1.1390, while USD/JPY has printed lower lows and could just grind lower.
Finally, we closed with USD/CAD which has to complete its current cycle at 1.2880, and will see new shorts if a gift is given with price into 1.3160.
Have a great trading and non-trading week
~FibStalker
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Come daily to Live Video and chat with experts and traders.
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There are several levels in play to be tested this week that could tell what kind of participation we are going to get from Algos, in different timeframes, up or down in a few markets.
We reviewed EUR/GBP and showed how weekly Algos have participated on the downside defending the .07880 area. This market should not continue higher and any test of the 0.7826-48 area could bring new shorts in.
The S&P500 is in profit taking mode that should bring price to a test of 2,020. A big week for the Dollar Index that may tell the story of the equity indexes, Euro and Japanese yen when the 94.30 is tested again for the 6th time in the last year.
Silver in a sequence of moves higher in all time frames, while Gold appears to be moving laterally, correcting in time rather than price.
For the EUR/USD, the 1.1230 area could find new participation higher for a continuation into 1.1390, while USD/JPY has printed lower lows and could just grind lower.
Finally, we closed with USD/CAD which has to complete its current cycle at 1.2880, and will see new shorts if a gift is given with price into 1.3160.
Have a great trading and non-trading week
~FibStalker
-----
Come daily to Live Video and chat with experts and traders.
-----
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