Giuseppe Basile, CSTA/IFTA
FibStalker Trading
Summary: In the room we reviewed the trades and markets we want to carry into the coming weeks. Particularly USD/JPY and GBP/JPY, with same targets indicated yesterday.
Particularly USD/JPY has now confirmed its target in the 114.80 area. I believe it is only a matter of time and next week or the following we may see prices in the 114.80 area.
We are also very interested in how the USD/CAD will react to the area of large participation higher. Now this market is at the level we mentioned last week, 1.3770 and halted there for now. This could be the start of a multi-week trade into historical highs in the 1.58 area.
It is very important to focus and try to get one or more positions in this market if price does not fall below 1.3538.
We reviewed the Dollar Index ICE futures and we showed that this market has the potential to move all the way into 94.50 area.
The GPD/JPY short has also held well, but this market is relatively stronger than the USD/JPY. It may test 169.60 area for a bounce when/if USD/JPY gets into 114.80.
Finally, as promised yesterday we reviewed NDZ/USD which confirmed weekly longs and is moving higher. It has a potential for much higher prices and could react and renew longs in the 0.6610-30 area in to 0.6730 and 0.6780 targets.
Tomorrow we will review the EUR/USD and AUD/USD and see where we can go from here.
See you at 8.00PM EST
Giuseppe Basile, a.k.a. FibStalker
-----
Come daily to Live Video and chat with experts and traders.
-----
Particularly USD/JPY has now confirmed its target in the 114.80 area. I believe it is only a matter of time and next week or the following we may see prices in the 114.80 area.
We are also very interested in how the USD/CAD will react to the area of large participation higher. Now this market is at the level we mentioned last week, 1.3770 and halted there for now. This could be the start of a multi-week trade into historical highs in the 1.58 area.
It is very important to focus and try to get one or more positions in this market if price does not fall below 1.3538.
We reviewed the Dollar Index ICE futures and we showed that this market has the potential to move all the way into 94.50 area.
The GPD/JPY short has also held well, but this market is relatively stronger than the USD/JPY. It may test 169.60 area for a bounce when/if USD/JPY gets into 114.80.
Finally, as promised yesterday we reviewed NDZ/USD which confirmed weekly longs and is moving higher. It has a potential for much higher prices and could react and renew longs in the 0.6610-30 area in to 0.6730 and 0.6780 targets.
Tomorrow we will review the EUR/USD and AUD/USD and see where we can go from here.
See you at 8.00PM EST
Giuseppe Basile, a.k.a. FibStalker
-----
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 hold comfortably above 1.0750 as USD recovery loses steam
EUR/USD clings to small daily gains above 1.0750 in the early American session on Monday. In the absence of high-tier data releases, the US Dollar finds it difficult to gather recovery momentum and helps the pair hold its ground.
GBP/USD struggles to find direction, holds near 1.2550
GBP/USD stays under modest bearish pressure and trades near 1.2550 on Tuesday. The neutral risk mood, as reflected by the mixed action seen in US stocks, doesn't allow the pair to make a decisive move in either direction. The Bank of England will announce policy decisions on Thursday.
Gold rebounds to $2,320 as US yields edge lower
After falling to $2,310 in the early European session, Gold recovered to the $2,310 area in the second half of the day. The benchmark 10-year US Treasury bond yield stays in negative territory below 4.5% and helps XAU/USD find support.
Ripple lawsuit develops with SEC reply under seal, XRP holders await public redacted versions
Ripple lawsuit’s latest development is SEC filing, under seal. The regulator has filed its reply brief and supporting exhibits and the documents will be made public on Wednesday, May 8.
The impact of economic indicators and global dynamics on the US Dollar
Recent labor market data suggest a cooling economy. The disappointing job creation and rising unemployment hint at a slackening demand for labor, which, coupled with subdued wage growth, could signal a slower economic trajectory.