While the S&P is up slightly today, it’s stalled out at some resistance over the last couple of days. There’s a similar story with the DOW — it hasn’t moved at all today. This doesn’t give me a great indication of sentiment, but it’s not like currencies have been following sentiment that closely over the last couple months, anyway, so it’s not a huge deal. I think I’ll just take the charts at face value
USD [S] – Even though yesterday price closed higher than it opened, it still looks like the sellers won, as there’s a long upper shadow. Today, it’s moved down a bit, and it looks like it still has room to run before reaching the lower trendline. I may have missed the move, but we’ll see what the other charts, and the pairings show
CAD [S] – I still like this to the short-side, especially if it can push through support. Today’s candle is up, but only barely, and there’s a long upper shadow. Also, the 20MA has finally touched the 50MA, and looks like it’ll cross under soon
EUR [L] – This is still at the bottom of the range it’s been in for a couple months, and the last 2 days, this has made bull runs. It’s already up .11% on the day, but there definitely looks like there’s room for this to run if more buyers come in
GBP [N] – High base, awaiting Brexit
JPY [S] – This did break above the resistance that was creating the low base over the last couple weeks, but it stalled out at another level of resistance. Today, it’s already down .37% and even if it were to just head back to support, that’s still enough space that it may be worth it to take a trade here. It is Friday, but I’m going to try to pay attention to any trades I take today throughout the weekend
Today’s Pairs
EUR/USD – Long
EUR/CAD – Long
EUR/JPY – Long
AUD/USD – Long
AUD/CAD – Long
EUR/CHF – Long
AUD/CHF – Long
EUR/CHF – Long
AUD [L/N] – I’m mostly neutral on this, but if there’s a pattern that arises where this looks like a good long play, I think I’ll take it. It’s stalled out at some support that has acted as previous resistance, and it’s been ranging for about 2.5 months. It’s at the bottom of the range and heading up
NZD [N] – I don’t think I want to touch this today. The 20MA has crossed over the 50, and it’s showing some signs of heading up, but it’s stalled at some resistance and is kind of ranging. Something drastic would have to happen for me to want to take a trade here, so I’m just planning on leaving this currency alone for today
CHF [S/N] – After creating a new swing high yesterday, this has gone down pretty significantly today. There’s still a pretty strong level of support that it hasn’t been able to push through, but it’s kind of far away from that level. I’m hesitant to short this because it did make a new swing high, but if there’s an opportunity, I may take it, given the room it has before support