I made it to the computer early, but I decided to watch the market update so I’m just now (8:23) getting started.
USD – L – After a fairly large down-move, this rallied a few days ago, pulled back, and is on another rally. In the daily market update, they were watching for this to move higher, too, and it has, so I’ll look to take this long today
CAD – N – This is still ranging fairly wildly. I still don’t love the moves it’s making, so I’ll hold off
EUR – N – This pushed higher today, but it’s still well within it’s base. I’ll wait for this to either break out above it’s base and begin to trend up, or push through support and continue it’s down-trend
Today’s Pairs
AUD/USD – Short
AUD/JPY – Short
NZD/USD – Short
NZD/JPY – Short
GBP – N – This down-move is (also) still within it’s range/base. It looks like it could potentially break through support, but I’ll wait until that actually happens before I pull the trigger here
JPY – L/N – I’m cautiously bullish here. It did rally, pullback and is rallying again, and it’s pushed above some resistance, but there’s still a prior level of resistance not too long ago, and it’s pulled back and is sitting at a level that’s been both. I’ll look at charts, to see if there’s opportunity to take this long, but I won’t chase
AUD – N – I feel like I want to look at this as a short, but that’s largely because I’m looking at USD and JPY as longs (they should be inversely correlated). That said, it’s in a high-base, and I’ve been bullish on this for a while. If there’s nothing else I like as a short, I’ll look at the other two currencies against this and see if there’s a tradable pattern
NZD – N – This dropped significantly today, but is still within the range it’s been in since late March. I don’t really love this to either direction, so I’ll hold off (I guess I’ll look at it similar to AUD)
CHF – N – This looks like EUR, I could say the exact same thing