Premarket, equities haven’t moved that much at all, but they are down slightly. S&P Closed lower yesterday as well, so we’ll see if this is another down-day or not when the markets officially open. At this point, I think I’m leaning risk-off, but we’ll see. USD doesn’t look like it’s heading up right now (even though Maverick thinks so), so I’ll play the waiting game there and mostly take the charts at face value
USD [N] – As I mentioned, I’m somewhat expecting this to rise, but it doesn’t look like it’s going to today (even though it’s been trending upward since the beginning of the year). I don’t want to take this long just because someone at Maverick did, so I’m going to see how it behaves when the market opens, but I’ll probably sit out of this today
Today’s Pairs
AUD/CAD – Long
CAD/CHF – Short
CAD [S] – This had been basing since the beginning of the year, but yesterday (while I thought it was stalling out) it pushed through support and is moving pretty strongly downward. It is at another level of support right now, but if it can push through that as well, this looks like a good short. We’ll see if there’s anything to pair against it
EUR [N] – I am bearish EUR, but I’m giving it a neutral rating today because I’m already in a EUR trade and I’m not SO bearish that I want to take a second position. This is moving lower as of right now, so I’m just hoping that continues
GBP [N] – I am overall neutral on GBP, but yesterday it made a strong up-move, so I thought I’d try to capitalize on that. I may have been too late because since, it’s pulled back a bit. That said, the pullback is sitting at the level of support that acted as resistance before it broke out yesterday so I’m comfortable with that. Hopefully it heads back to the upside during today and I can makes some pips before the weekend!
JPY [N] – This has been downtrending steadily for about 5 months now, but it’s currently in a rally. I could see a scenario where this pushes a little higher before it heads back down (or this could even be a reversal), but nothing is confirmed — at least not enough for me to want to trade this right now. We’ll see how it looks later today/tomorrow
AUD [L/N] – As I mentioned yesterday, this was at the bottom of the range it’s been in and I expect it to head up a bit. It’s currently doing that, so I’m cautiously bullish here. I’ll see what an individual chart looks like, but I don’t want to force anything
NZD [N] – This is still in the basing pattern it’s been in since the beginning of the year. I’m going to just leave this alone for now until it breaks to one side or the other
CHF [L/N] – This had a strong up-move, beginning at the beginning of the year, but last Thursday it began to pullback. It’s hard to tell whether this is a pullback and it’s about to head back up, or if it’s going to base, but it’s been moving up again over the last three days (and I’m overall bullish here), so if a chart looks good, I’d be comfortable going long here