Equities recovered yesterday and made a new swing high, and premarket they’re up today. It’s looking like it’s going to be a risk-on day, but I think that only means JPY down in this environment. I’ll keep that in mind and mostly take the charts at face value
USD [L] – Over the last few days, USD has been more following the S&P rather than being negatively correlated. Today, it’s already up a bit, but is sitting at some support/resistance levels. There’s some room for this to go before the next major level of resistance, so I’d be comfortable going long here
CAD [N] – Looks the same as it did yesterday, not enough information for me to want to pull the trigger here in either direction
EUR [N] – This pulled all the way back to the upper trend-line of the downtrend it was in before it exploded last week, so at this level, I’m not really able to determine whether it’s going to begin heading up again and this is a pullback or if it’s going to continue the previous trend that it was in so I’m going to leave it alone for today — maybe check it later this afternoon for some breakouts to the downside if it heads that way more convincingly
Today’s Pairs
USD/JPY – Long
USD/CHF – Long
AUD/JPY – Long
AUD/CHF – Long
AUD/NZD – Long
USD/NZD – Long
GBP [N] – Made a few pips here yesterday, but it’s still basing and is right at support. I don’t want to take this chance at this position.
JPY [S/N] – I’m overall bearish here, and I believe with equities increasing this will continue down. That said, it’s made a fairly large move already today and is sitting on some support, so it may not have much further to fall, and since it did make a new swing high, there’s a chance that was a trend reversing move and this pullback is just preceding another up-move. Because of the equities, though, I’m going to look for a breakout to the downside
AUD [L] – This is up huge already today and is sitting at some resistance. Do I think this potentially could go higher, yes, but today, I’m not so sure. I’ll revisit this this afternoon to see how it finished on the day, and maybe look to set an order that’ll hopefully trigger overnight
NZD [S] – There’s a lot of indecision here right now, it’s up a little on the day as of right now, but it’s been higher and lower and we’re sitting near the open. This looks to me like a pullback and not a reversal back to the upside, so I want to short this, but it’s a matter of whether I want to short today or not. I think I’ll look at this this afternoon when I look at AUD
CHF [S] – This pushed through that level of support it was at yesterday and is currently sitting at another level of support. If it can break today’s lows/this level, I see a good amount of room for this to run