Giuseppe Basile, CSTA/IFTA
FibStalker Trading
Summary: In the room we looked at today's move that broke the 112.12 mentioned yesterday. That means weekly Algos are not interested in longs no more. At least for some time.
I projected a 100.70 in the USD/JPY which we are going to get only after a bounce. If the lows are in the max retracement higher for the USD/JPY is going to be 118.40 area.
We also compared the USD/JPY to the S&P500, which I will keep following in the coming days/weeks. If USD/JPY bounces here, this may carry the S&P500 higher for a few sessions but I believe that, eventually, the 1,800 level will be violated on the downside, with dire consequences.
We mentioned the GPB/JPY, which went less than 400 pips from its current target at 156.40. This market is showing in advance the pattern that the USD/JPY will follow in the coming weeks.
We commented on the USD/CAD move and also discussed how it could move higher even if the EUR/USD moves higher and price of oil does not move lower, due to recent Algos participation. This market is putting up a reversal pattern on top of weekly support.
Finally we closed wit the EUR/USD which it is projected to move into 1.22. This market is going to correct at least to 1.1220 area maybe for a continuation higher, or a move lower to the middle of the recent move, for a continuation higher.
Have a great weekend and see you on Sun evening at 8.00PM EST.
~FibStalker
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Come daily to Live Video and chat with experts and traders.
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I projected a 100.70 in the USD/JPY which we are going to get only after a bounce. If the lows are in the max retracement higher for the USD/JPY is going to be 118.40 area.
We also compared the USD/JPY to the S&P500, which I will keep following in the coming days/weeks. If USD/JPY bounces here, this may carry the S&P500 higher for a few sessions but I believe that, eventually, the 1,800 level will be violated on the downside, with dire consequences.
We mentioned the GPB/JPY, which went less than 400 pips from its current target at 156.40. This market is showing in advance the pattern that the USD/JPY will follow in the coming weeks.
We commented on the USD/CAD move and also discussed how it could move higher even if the EUR/USD moves higher and price of oil does not move lower, due to recent Algos participation. This market is putting up a reversal pattern on top of weekly support.
Finally we closed wit the EUR/USD which it is projected to move into 1.22. This market is going to correct at least to 1.1220 area maybe for a continuation higher, or a move lower to the middle of the recent move, for a continuation higher.
Have a great weekend and see you on Sun evening at 8.00PM EST.
~FibStalker
-----
Come daily to Live Video and chat with experts and traders.
-----
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