Another Monday, another start after 8:30am. I’d like to get better about my timing, but I’m not terribly worried about it because my numbers are there. It’s a balance, and I’m still trying to figure everything out. I’ll get there. Regardless, since markets are already open, I’ll look at equities, but I’m just going to take the charts at face value today
USD [L] – This has pushed significantly low today, but didn’t quite make a new low and as of right now it’s up a little on the day. This is definitely showing signs of strength to me, so I’ll see if there’s any opportunity to take this long
CAD [N] – This had a couple of days where it seemed to be low-basing, but this ended up being really strong on Friday, but today it’s down quite a bit. With Friday’s up-move, and the move it’s already made today, it’s making higher highs and higher lows, but again, it’s down quite a bit today. This doesn’t look like a great play to me in either direction, so I’m going to leave it alone for today
EUR [L] – There’s not a ton to say about this except that it’s up quite a bit today and has been strong since the middle of last month. I’ll see if there are any opportunities to take this long today
GBP [S/N] – This had the large drop (that I profited from!) on Friday, and today’s candle has pushed about 1% higher and lower but is sitting near the open and showing indecision. Since it’s been trending down for a week, and finally significantly pushed through some support, I like this to the downside, but since it’s sitting near the open right now, I’m a bit neutral. I’ll see if there are any breakouts that I can play this to the short side
Today’s Pairs
GBP/USD – Short
AUD/USD – Short
EUR/GBP – Long
EUR/AUD – Long
GBP/JPY – Short
AUD/JPY – Short
GBP/CHF – Short
AUD/CHF – Short
JPY [L/N] – This is up a little over 3%(!) on the day already, but also appears to be in a bit of a large high-base pattern right now. If it’s not a high-base, it should break out of this range and push higher, so if I play this to the long side, it might have to be a breakout of the highs from last week, not today. I’ll see what individual charts look like
AUD [S] – This is down a significant amount on the day already and is continuing it’s weakness from last week. This is making significantly new lows, so picking a target here will be difficult, but I’ll still look at charts for opportunities to short this
NZD [N] – -This was in a bit of a low base for a littleo ver a week, then it pushed lower and looked like the weakness would continue, but finished kind of strong on Friday (though it did make a new lower low and a lower high). Today, it gapped down on the open, but is showing signs of strength again today (while still somehow making lower lows and lower highs). This looks weird to me, and since I’m overall bearish on this, I’m going to leave it alone, since it’s been making up-moves over the last couple of trading days
CHF [L] – Similar to EUR, this has been strong for a couple of weeks, and that strength is looking as though it’s continuing. I’ll look for opportunities to take this long