I’m going to (attempt) to do an abridged version of RSW this morning as I’m already in a good trade and it’s Friday (and the end of February) so I don’t want to take a trade unless it looks GREAT. Equities finished lower again yesterday and they’re down premarket this morning. I’m assuming things will continue to move the way they currently are CAD/NZD/AUD down. The longs are a little less predictable right now, so we’ll see what the charts are saying
USD [N] – I’m a little bullish here, but again, I only want to take great trades today, so I’m neutral. This is still in that high base, but it did push through the highs a bit today. I don’t love this right now, so I’m going to leave it alone, but I am bullish and may look to take this long next week
CAD [N] – This looks pretty bearish to me, but it’s pulled WAY back from today’s lows already. I doubt any chart will offer a great entry/stop level that would also offer a good R:R, so I’m going to leave this alone
Today’s Pairs
AUD/JPY – Short
AUD/CHF – Short
EUR [N] – I’m currently in an EUR trade and while it looks really bullish, it has pulled considerably back from today’s highs. I don’t feel comfortable taking this long again today, so I’ll just continue to monitor and manage my current trade
GBP [N] – This has moved up on the day and down on the day already, but is sitting at the open right now. I’s still well within the range it’s been staying in for the month as well. I’m going to continue to leave this alone until it shows more signs of movement in one direction or the other
JPY [L] – Holy bananas, this spiked big on the day already. Hard to say how far this could go, but if it has anything to do with equities, then probably a little further. I’ll take a look and see if there’s any JPY trades that are too good to pass up
AUD [S] – This is down again/still, pretty strong as well. The tough thing with AUD is that these are lows it’s never seen before so there’s no great way to pick a target. I’ll glance at AUD/JPY and see if there’s anything there, but I am a little nervous about trading AUD
NZD [N] – I am bearish here, but I don’t see a need to take a second NZD position. I’m just going to monitor/manage my trade and revisit this next week
CHF [L] – This is still showing signs of strength and while it’s pulled back from the highs of today, it’s not that far. It could be a nice place to have an entry point and stop. I’ll see what the charts look like