Yesterday, equities dropped a bit again, and premarket they’re down. It looks like it’s going to be a risk-off day, so I’ll look to go long USD, JPY and CAD
USD [L] – While it was higher and has since pulled back some, I still like this as a long. Sentiment looks to be risk off and it’s clearly broken above the neck of the reverse head-and-shoulders that it formed. I’ll see if there’s anything good to pair against it
CAD [N] – I thought this would be a good safe-haven currency, but right now it’s on a down-day, and yesterday was down pretty dramatically. At this point, I don’t really feel comfortable shorting this, so I’m just going to leave it alone for today
EUR [N] – This looks like it’ll be another good short opportunity tomorrow or Monday, but right now I don’t want to touch it. It’s been up over the last 4 days, but it’s staying right within the channel/downtrend that it’s in, and is simply at the top of that range. When price reverses, I’ll look to short, but nothing today
Today’s Pairs
AUD/USD – Short
AUD/JPY – Short
AUD/CHF – Short
NZD/USD – Short
NZD/JPY – Short
NZD/CHF – Short
GBP [N] – I’m in a GBP trade right now, and it’s going really well for me. That said, it’s up a decent amount on the day, and I don’t know if I want to chase it this morning. I’ll keep an eye on this basket to see, but as of right now, I’m just going to monitor the trade I’m currently in (maybe my move will be to add to the trade, we’ll see)
JPY [L] – This stalled yesterday and the day before, but it looks like it’s breaking above those highs. We are at some resistance that has acted as previous support, but if it can break that level, too, there’s a decent amount of room for this to run
AUD [S] – I’m a little apprehensive to short this after such a large down-move, but it’s sitting at a really strong level of support, and if it can break through that, who knows how far it can fall. We’ll see what individual charts look like
NZD [N] – I like this to the down-side, but not so much that I want to be in a second NZD position. I’ll monitor the one I’m in and maybe look to short NZD again after this position closes
CHF [L] – This is showing some strength again — I can’t say for sure if this is a false breakout like we had earlier this week, or if this will be sustained, but it is looking quite strong. It’s not my favorite long, but I’ll look to see what individual charts look like