Giuseppe Basile, CSTA/IFTA
FibStalker Trading
The USD/CAD has rallied after profit taking at the 2nd target at 1.2880. Rally brought price right into the next area short starting at 1.2692.
SP&500 has participated at 2,075 short area. Price now captured between 2,051 daily longs and 2,062 H4 shorts.
Dollar Index has continued lower and hit 2nd target at 92.04 and behaved like USD/CAD. However the Dollar could resume move lower soon.
EUR/USD, profit taking at around previous highs after hitting targets. Next long could present at 1.1414 and 1.13 for a continuation higher on Dollar weakness.
We also reviewed USD/JPY, GBP/USD, AUD/USD, EUR/CAD.
-----
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 edges lower toward 1.0700 post-US PCE
EUR/USD stays under modest bearish pressure but manages to hold above 1.0700 in the American session on Friday. The US Dollar (USD) gathers strength against its rivals after the stronger-than-forecast PCE inflation data, not allowing the pair to gain traction.
GBP/USD retreats to 1.2500 on renewed USD strength
GBP/USD lost its traction and turned negative on the day near 1.2500. Following the stronger-than-expected PCE inflation readings from the US, the USD stays resilient and makes it difficult for the pair to gather recovery momentum.
Gold struggles to hold above $2,350 following US inflation
Gold turned south and declined toward $2,340, erasing a large portion of its daily gains, as the USD benefited from PCE inflation data. The benchmark 10-year US yield, however, stays in negative territory and helps XAU/USD limit its losses.
Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.
Week ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too
Fed meets on Wednesday as US inflation stays elevated. Will Friday’s jobs report bring relief or more angst for the markets? Eurozone flash GDP and CPI numbers in focus for the Euro.