Happy New Year 2014!
I hope you spent a happy and relaxing Christmas Holiday and you are now to start what we are going to make a new fab tastic year! This is my wish for you all.
In the following I am sharing the first daily review for the EUR/USD and the S&P500 emini. I will elaborate more on these and other markets tomorrow at the FXStreet.com Dale Pinkert s LAR (Live Analysis Room). Do not miss the interview where I am going to tell you what I see in the Euro and how you can profit from a 700+ pips move on the downside onto the next long swing setup.
Below the video analysis, you can find the commentaries for the above mentioned markets:
The Euro violated the all the way halfway back long term short setup on the monthly chart. This is a very bullish development but Program Trading rules and group market psychology will now cause a move lower into the 1.29 area. I will be more precise in tomorrow s interview. I waited after Friday reversal move if the market still had steam to move market towards the 1.41 target, before reversing as required. That did not happen so I am going to stalk this market for a short entry now.
This market also reversed, apparently following Euro weakness, but not before hitting target of a very aggressive extension. We have two levels of support below current prices at 1,784 and 1,757. The line in the sand for the whole S&P500 move higher is, at current highs, at 1,735.
I will all see you tomorrow at the FXStreet.com LAR!
Notice that price projections in my method are not from/to random levels and do not follow Elliot Wave, DiNapoli levels or other methods, but rather a proprietary method based on modeling effects of Program and Algorithmic Trading on price.
My method helps “level plain” the trading game showing what banks, institutions and big hedge funds are actually doing (and not what they are saying they are doing). Follow me to learn how to spot the Algorithmic Trading footprints.
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Have a great evening.
Giuseppe, the FibStalker