In the following I am sharing the daily review for the EUR/USD and the S&P500 emini for tonight February 20th, 2014
Below the video analysis, you can find the commentaries for the above mentioned markets:
The Euro is correcting into the next level of support 1.3670. If you believe that the Euro has to continue higher (I do not support that) that is where we will need to test the long participation (with a stop below 1.3642). Below 1.3642 the next area of support starts at 1.3624, but I would not get involve long at that levels as we could easily witness recent lows at 1.3470 area trading again. If, on the other hand, the 1.3670 area gets participation, the next target would be in area 1.3830.
This market failed the 1,735 level more than 2 weeks ago and retraced to previous highs as anticipated. After an initial move lower, price has been pushed higher by a dodgy sequence on the 15mins today. We have support in the at 1,835 area at the moment but, should the market lose the 1,834.5 level we could be in for a harsh correction, at least into 1,818. Most probably lower.
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.
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Have a great evening.
Giuseppe, the FibStalker