S&P was up again yesterday, but I’ve seen that stocks were down pre-market. I believe they were down pre-market yesterday as well, but it still continued to rise. I’ll expect the same thing today when doing my analysis
USD [S/N] – As has been the last couple of days (especially at this time) I’ve been bearish USD, but it’s been up over the previous day. S&P was up again yesterday and I’m expecting the same today (at least, not a major drop), so I expect this to continue down. I’m hoping for something that I’m stronger bearish to look at today, but this is an option
CAD [N] – As I mentioned yesterday, CAD made a new swing high above 2 previous swing highs, which is a sign of reversal. That said, yesterday and today CAD is down, but it pulled back right around to the 50% fib retracement level. I think this is poised to head bullish, but I don’t want to play it that way today, and I also don’t see much room for this to move to the downside, so I’m going to leave it alone
Today’s Pairs
GBP/USD – Long
EUR/GBP – Short
AUD/USD – Long
EUR/AUD – Short
EUR/NZD – Short
NZD/USD – Long
EUR [S*] – This is tough today because it’s sitting right at a support level that’s it’s failed at a number of times over the past few months. I still see the descending triangle pattern, so if it can truly push through this level, I see a potential to short here, but I want to wait until that happens before I pull the trigger
GBP [L] – After 3 consecutive down-days, price stalled at a level that’s acted as both support and resistance and is heading back up. It’s already moved .38% on the day, so I probably missed anything I would’ve liked, but we’ll see. Also, since it’s the first up day after a few down days, I’ll only take a trade here if I think I can get in and out today
JPY – This is still in that low-base pattern, but price has been moving up slightly over the last 2 days. I don’t know that I’m comfortable taking this in any direction right now.
AUD [L] – This is on an up-day already today, but it’s sitting at some resistance. Even if it were to push through this level, I’m not sure how much further it could go. I’ll look at some AUD charts, long, to see if there’s room if it were to break this level on the individual chart, but I’m not going to chase
NZD [L] – This has been in a bit of a high base over the last week or so, and overall I’ve been bullish here. That said, today, price is down slightly (.05%). If this could reverse and head back up, I see some opportunity there, so I’ll see if there are any breakouts I can play on individual charts
CHF [N] – This is a tough one. I think my overall sentiment has turned bullish on this, but it’s down fairly significantly today. I could definitely see a scenario where this is simply a pullback before it heads higher, but even if that were the case, it looks like there could be some room for this to go further down before it heads back up. It is at a level of support that’s acted more as resistance in the past, but regardless, price has stalled at the current level before. I think there are too many question marks right now for me to trade this