Equities closed at new highs again yesterday, but equity futures are down this morning. This could be a small pullback on the day. I’m not sure how much it’ll affect currencies, though. I’ll mostly take the charts at face value
USD [N] – This is showing some indecision today — it’s either going to reverse and head down again (like it did at the end of last year) or this is simply a pullback and it’s going to head back up again. Either way, based on what it’s doing right now, I don’t want to touch it
CAD [L] – This actually moved up a little yesterday and is up a bit today (and has already been higher). It’s at some resistance right now, but if it can push through this level again, I see an opportunity to make some pips
Today’s Pairs
EUR/CAD – Short
EUR/GBP – Short
NZD/CAD – Short
GBP/NZD – Long
EUR [S] – This is one of those “it’s moved a bunch already, how much more can it move?” scenarios, but lately I’ve been in the camp of not trying to predict that. It’s down, showing signs of weakness, so I’m going to look to short this today
GBP [L] – This pushed up above the range that it’s been in and is currently sitting at some resistance that’s been more support in the past. I like this to the upside right now, especially on a breakout
JPY [N] – This is in a somewhat weird position right now. It appears to be on an overall downtrend, but had a rally a couple of weeks ago, and is now in a strange almost base, and it sitting at a level that’s been both support and resistance. At this moment, I don’t feel strongly about this in either direction, so I’m going to leave it alone
AUD [N] – This looks like it’s recovering from a large drop (could’ve been the drop that stopped me out last night), but is currently sitting basically at it’s open. There’s some resistance here, too, and the signs of strength aren’t really there, so I’m going to leave this alone for now
NZD [S/N] – This dropped a bit already today and is sitting somewhere in the middle of the open and the low. It spiked yesterday, but I believe that was just a flash based on news, and it’ll begin heading back down. I like this to the short side, I just need to find a good entry point since it’s pullback so much on the day already
CHF [N] – This is still sitting at that level of support/resistance and doesn’t seem like it’s moving very strongly in either direction. I’ll leave this alone again today and just continue to monitor for better opportunities