Giuseppe Basile, CSTA/IFTA
FibStalker Trading
Summary: In the room today we showed and commented on some of the risk-free trades obtained by the markets including AUD/USD and USD/JPY shorts.
EUR/AUD and AUD/USD trading in lockstep and judging from how Algos have been positioning on EUR/AUD today the news on AUD at 10.30PM EST could be positive against the Euro (but negative against the US dollar?). We cannot anticipate anything about how the markets will react to news so we will need to wait and see.
We touched on the USD/CAD and if price is going to find participation by weekly and monthly Algos at 1.3770, this market could start a multi-month move higher, an opportunity of 1,800 pips (give or take) into the 1.60 level.
Manufacturing and consumer companies buying in US dollars are seriously setting funds aside on projects in Toronto and Canada, to hedge for a higher USD. Technicals are also suggesting higher prices.
Participants have asked for a review of the GBP/USD with weekly targets at 1.3950 area and a looming short once the push higher has exhausted itself. The inter-European play EUR/GBP, on the other hand, is in a move higher with support at 0.7530 with target in the 0.7880 area.
See you tomorrow at 8.00PM EST in the Tokyo Session Open room.
-----
Come daily to Live Video and chat with experts and traders.
-----
EUR/AUD and AUD/USD trading in lockstep and judging from how Algos have been positioning on EUR/AUD today the news on AUD at 10.30PM EST could be positive against the Euro (but negative against the US dollar?). We cannot anticipate anything about how the markets will react to news so we will need to wait and see.
We touched on the USD/CAD and if price is going to find participation by weekly and monthly Algos at 1.3770, this market could start a multi-month move higher, an opportunity of 1,800 pips (give or take) into the 1.60 level.
Manufacturing and consumer companies buying in US dollars are seriously setting funds aside on projects in Toronto and Canada, to hedge for a higher USD. Technicals are also suggesting higher prices.
Participants have asked for a review of the GBP/USD with weekly targets at 1.3950 area and a looming short once the push higher has exhausted itself. The inter-European play EUR/GBP, on the other hand, is in a move higher with support at 0.7530 with target in the 0.7880 area.
See you tomorrow at 8.00PM EST in the Tokyo Session Open room.
-----
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
AUD/USD: Extra gains in the pipeline above 0.6520
AUD/USD partially reversed Tuesday’s strong pullback and regained the 0.6500 barrier and beyond in response to the sharp post-FOMC pullback in the Greenback on Wednesday.
EUR/USD jitters post-Fed with NFP Friday over the horizon
EUR/USD cycled familiar territory on Wednesday after the US Federal Reserve held rates as many investors had expected. However, market participants were hoping for further signs of impending rate cuts from the US central bank.
Gold prices skyrocketed as Powell’s words boosted the yellow metal
Gold prices rallied sharply above the $2,300 milestone on Wednesday after the Federal Reserve kept rates unchanged while announcing that it would diminish the pace of the balance sheet reduction.
Ethereum plunges outside key range briefly as US Dollar Index gains strength
Institutional whales appear to be dumping Ethereum after recent dip. Fed’s decision to leave rates unchanged appears to have helped ETH's price recover slightly. SEC Chair Gensler has misled Congress, considering recent revelations from Consensys suit, says Congressman McHenry.
The FOMC whipsaw and more Yen intervention in focus
Market participants clung to every word uttered by Chair Powell as risk assets whipped around in a frenetic fashion during the afternoon US trading session.