Equities pushed to new highs again yesterday, but finished closer to the open. Today, premarket, equities are up, so I think I’m leaning bullish USD since it’s got some room between current price and the resistance level it’s run up against. I know I should be short USD if equities are up but that’s not how they’ve been behaving lately
USD [N] – I may revisit this in a couple of hours, but right now, I’m neutral. It had a bit of a pullback a couple of days ago, but was up yesterday. Today (this morning, anyway), there appears to be a lot of indecision; so I’m going to wait to see which direction this wants to move before I decide to trade this
Today’s Pairs
CAD/JPY – Long
CAD/CHF – Long
CAD [L] – This is still showing signs of strength, and there also looks to be a good amount of room for this to run between it’s current price ant the next major level of resistance. Let’s see if there are any solid shorts to pair against this
EUR [N] – This was showing weakness over (essentially) the last 9 trading days, but is up a bit today. The lows it hit yesterday were the lowest it had gotten since July of 2017, so it’s hard to say if that was the bottom or if this is a pullback, and EUR is heading toward some historical lows. Because of this, I’m going to leave this alone for today and see how it looks on Monday
GBP [N] – After spiking yesterday, this is down a decent amount today. Chances are, it’ll just go back to within that range, but it already is having trouble pushing through the support level that was resistance when it was in that range. Because of that, this may just be a pullback and it is going to continue up in the coming days. I don’t love this to either side right now, so I’m going to leave this alone
JPY [S] – There is some support that it’s sitting on, but if it can push through this level, I think this can drop pretty far. I’m overall bearish on this anyway, and it’s showing signs of weakness today. I’ll use my 5 pip buffer and see if I can find a trade that’ll trigger
AUD [N] – I think this is becoming more bullish, but it’s taking it’s time. It’s essentially basing right now after a rally, pullback, and then another rally (but to those same highs as before). I’m going to leave this alone today, and see if it shows signs of moving in one direction or the other on Sunday/Monday
NZD [N] – This had that large spike on Wednesday (which stopped me out), then pulled back about halfway on Thursday and is up slightly today. It did push lower earlier, but not much lower than yesterday’s lows, and as I mentioned is already up today. I don’t like this to the upside, and it’s not showing signs of weakness, so I’m going to leave this alone today
CHF [S] – This is showing signs of weakness and while there is some support that it’s near, the support level isn’t that strong. I’m comfortable shorting this today