Giuseppe Basile, CSTA/IFTA
FibStalker Trading
Summary: Today initial move of the EUR/USD after the rates decision was released went in the direction in which daily Algos were positioned. However during the conference it appears Draghi has been successful in infusing market participants with a conviction that the currency will improve in the future.
While I do not comment on the fundamentals as I follow price, I will observe that current EUR/USD price behavior is pointing to revisit of recent highs.If EUR/USD holds the 1.1140 level we should soon see the 1.1310 area.
Of course, USD/JPY has in turn reversed and threats to challenge the 111.00 recent lows.
We also reviewed the EUR/CAD and EUR/AUD, with the latter being more bearish than the former.
We finally closed with the analysis of the Dollar Index futures, only market whose chart was anticipating a reversal in the EUR/USD. The S&P500 emini futures has also reacted to today's volatility in currencies stopping our long position out. However, before a reversal in this market can be confirmed we would need to see the 1,958 level breached on the downside.
Enjoy your Friday trading and weekend and...See you on Sunday at 7PM EST.
~FibStalker
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Come daily to Live Video and chat with experts and traders.
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While I do not comment on the fundamentals as I follow price, I will observe that current EUR/USD price behavior is pointing to revisit of recent highs.If EUR/USD holds the 1.1140 level we should soon see the 1.1310 area.
Of course, USD/JPY has in turn reversed and threats to challenge the 111.00 recent lows.
We also reviewed the EUR/CAD and EUR/AUD, with the latter being more bearish than the former.
We finally closed with the analysis of the Dollar Index futures, only market whose chart was anticipating a reversal in the EUR/USD. The S&P500 emini futures has also reacted to today's volatility in currencies stopping our long position out. However, before a reversal in this market can be confirmed we would need to see the 1,958 level breached on the downside.
Enjoy your Friday trading and weekend and...See you on Sunday at 7PM EST.
~FibStalker
-----
Come daily to Live Video and chat with experts and traders.
-----
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