Equities closed lower again, and they’re down premarket this morning. I’m not sure how long this slide is going to last, but I do know that CAD isn’t the safe-haven currency it was. I’m going to assume a risk-off sentiment with JPY being the main currency of safety, probably, based on what I’ve already looked at this morning and what was mentioned in the mid-week update yesterday
USD [N] – This still looks to be in a basing pattern — it’s down today and stalled out at some support. Overall this looks bullish still to me, so I don’t want to short it, but since it’s down today, I don’t want to take this long right now so I’m going to leave it alone
CAD [S] – This dropped a lot already today and if there’s an opportunity to short this vs something strong (and the numbers are there) I’d be comfortable shorting this
EUR [L] – This is up big today, and showing serious signs of strength. There is some resistance at the level it’s at, but if it could push through that, there’s a decent amount of room for this to run (and thus pips to make). It’ll all depend on the individual charts though
Today’s Pairs
EUR/CAD – Long
EUR/GBP – Long
CAD/JPY – Short
CAD/CHF – Short
GBP/JPY – Short
GBP/CHF – Short
GBP [S/N] – This is on another down-day and isn’t staying within the “new” parameters of the base that it’s been in. That said, it is stuck at some support and is remaining within the parameters of a base that have been there since the 15th(ish). If it could push through this level, there’s probably a few pips that can be made here, but I don’t think it’s the best short right now
JPY [L] – This is looking strong today, and it pushed above the upper end of the descending channel that it’s been in. This has also seemingly been the currency of safety, and as equities continue to slide, I want to be long here
AUD [N] – I’m bearish overall here, but this made another new low but has since been up on the day. When this reverses, I’ll look to short it again, but as of right now, it’s up a little too much
NZD [N] – Similar to AUD, I’m overall bearish on this, but it’s on a rally. I’ll need this rally to reverse (or confirm a trend-change) for me to pull the trigger here
CHF [L] – I’ve been bullish CHF for a few days and it’s finally proving out. It did move quite a bit already on the day, but I’ll still look for opportunities to get into this long — it may take a day or so for the trade to fully shake out, but I’m comfortable with that