*Disclaimer: I’m pretty sick right now. Not hung over, just sick. I’m not sure what happened, maybe it’s just from all of the travel and lack of sleep, but I’m not feeling well at all. Hopefully it doesn’t affect my trading too bad
The S&P continues to make new highs and is up premarket as well. I already looked at USD this morning, and it’s definitely moving down, so I’m anticipating a risk-on sentiment
USD [S] – I don’t know if there was a single event that caused this to move down, or if it’s simply due to the increases in equities, but this is quite bearish. The only caveat I have is the fact that it’s near some support again, but if it looks good on a chart, I’m comfortable shorting this
CAD [N] – I don’t know what to say, really, about CAD. This made a new swing high last week, but has since pulled back. It’s currently sitting above the previous swing low, but at a level of support (that’s been previous resistance). I feel like if it could push through some of this resistance, it might have a little ways to go before heading back up, but I think I’m overall more bullish on this. I don’t want to chase, so I’ll just leave this alone today
Today’s Pairs
NZD/USD – Long
EUR/NZD – Short
NZD/JPY – Long
USD/CHF – Short
EUR/CHF – Short
CHF/JPY – Long
EUR [S] – After pushing through the support level that helped make up the descending triangle, price rallied back up to that level. It pushed through a bit, but closed right back at that level, and so far today’s candle has been a bearish one. I like this to the short side, let’s see if I can find anything to pair it against
GBP [N] – After dropping pretty significantly at the beginning of last week/end of the previous week, this has rallied over the last 4 trading days. That said, it’s stalled out at some resistance, but it’s also not really showing signs of heading back down. I think I’m just going to go ahead and leave this alone for today
JPY [S] – This has been steadily moving lower over the course of the last 3 – 4 months, but it’s still been somewhat unpredictable. It bases somewhat frequently, and moves within that base in ways that has stopped me out before, but once it pushes through the support level, it often moves pretty quickly for a day or 2. I’ll see if any charts have good tradable setups, but it’s not my favorite short of the day
AUD [N] – Maybe it’s my head, or my tiredness, but I don’t really have a sentiment for AUD at all. It’s been pretty ugly for about 5 months, and while it’s on a rally, it’s stalled out at some resistance and hasn’t moved much at all today. I don’t like this very much so I’m going to just leave it alone
NZD [L] – I’m quite bullish on this and have been for a while. It’s continuing to make new highs, and if it can push through this current level of resistance, it has a bit of a ways to run. I’m going to pull the trigger here when/if I see a tradable pattern
CHF [L] – I’m cautiously long here. It’s still failing above that upper trendline, so I’m overall bullish, but it is stalled out at some resistance. If I see something really pretty to trade in the charts, I’ll pull the trigger, but I’m in no rush here