On Friday, the equity markets made new highs again. That said, premarket, we’re trading about .3% lower, but it definitely could open lower and then push higher. I’m going to err on the side of a risk-on day, but we’ll see what happens when the markets actually open
USD [S/N] – If we are, in fact, in a risk-on day, then I’d like to see this head down, but looking at the chart, this may be beginning to reverse to the upside. It made a new swing high, and it’s most recent swing low is higher than the previous swing low. I think, given the chart, I don’t want to trade this today — I’ll see if it drops further, though, when the markets open
Today’s Pairs
USD/CHF – Short
CHF/JPY – Long
AUD/CHF – Short
CAD [N] – This is in a high base right now, but is on a down-day. It’s already moved down a decent amount on the day, too, so I don’t want to force anything. I think I’m going to leave this alone today, too, and see how it shakes out later in the week
EUR [N] – This is still kind of ranging, but it does seem to be within the downtrend. At this point, I don’t feel comfortable taking this long, and since it’s on an up-day, I don’t want to short it either, so I’m going to leave it alone for this morning and revisit this afternoon
GBP [N] – This is still basing, and is currently up against a decent level of resistance. I haven’t loved this in it’s range, so I’m going to continue to leave this alone
JPY [S] – I like this to the downside, but I don’t love it. It’s technically up a little so far today, but it’s been up a lot more and is sitting close to the open/low of the day. It pushed through support last week, and potentially could fall a lot further if it moves down again. I’ll definitely look to short this outside of some support
AUD [S/N] – At this point in AUD, I’m bearish — and while it’s moved lower over the last 5 trading days, it’s currently up against some pretty strong support. If this can push through that level, there might be some pips available. Let’s see if there’s anything I can pair against it that looks good
NZD [N] – I’ve been bullish on this since mid October, but since the beginning of the year, it’s been basing. It’s not really showing signs of moving significantly in either direction, so I’m going to wait for that, as for this morning, I’ll leave it alone. I’ll check on it this afternoon
CHF [L] – I’ve been long here for a few weeks now. There was a bit of a pullback at the end of last week, but it’s up again, so far, today, and I believe it could push higher. I’ll see what this looks like against the couple currencies I’d like to short today and see if I can get into a trade