I still have yet to fully flesh out my fundamental strategy, so I’m just going to say that equities dropped pretty significantly yesterday (comparably to the previous week+), and things are beginning to look weak again today, so I’m going to assume a risk-off sentiment.
USD – L – This closed near it’s open yesterday and has moved a bit today but again is sitting near the open. I don’t love this to the downside, but if we’re risk-off, this could rise, so I’ll take a look
CAD – N – This ended up dropping quite a bit yesterday, but is already up almost the same amount. It’s still somewhat staying within that descending triangle pattern, but it’s pushed above it a bit a couple of times and looks to be in more of a base at this point. I’ll hold off for now
Today’s Pairs
NZD/USD – Short
EUR/NZD – Long
NZD/CHF – Short
EUR – L – This is on it’s third up-day in a row, but is sitting at some resistance. It’s already pushed through that level once, and pulled back a little, so if it can push up again, this looks like it has room to run
GBP – N – This dropped yesterday and is up a bit today. Overall, GBP looks bearish to me, so since today’s up a bit, I’ll leave it alone. I’ll revisit this afternoon
JPY – N – This still appears to be mostly basing. It’s up for the second day in a row, and is sitting at some resistance, but this hasn’t moved with much consistency for a while, so I’ll hold off on this
AUD – N – This pulled back yesterday, and is slightly up today. I don’t think I want to touch this until it gets closer to breaking out of the high from the end of April (or until it shows signs of reversing back to the downside)
NZD – S – Gosh. This dropped significantly yesterday after the news announcement came out, but at this point, it’s just at the bottom of the range it’s been in since late March, and is sitting at that support level. If it can push through this level, this could be a big run, but if it’s just going to continue to range, then this wouldn’t be a good short at this point. Unfortunately, I don’t have any other shorts to look at, so I’m going to see if there is any opportunity here
CHF – L – Same as EUR, still