Equities closed a decent amount lower yesterday, but are up today and near breakout levels. I’m already in AUD/USD and it seems to reflect that a little. I’ll keep this in mind while going through the baskets, and determine then whether I want to take a second position in either.
USD – N – I like this to the downside, and since I’m currently short USD, I’m happy with that. It’s sitting on some support currently, so hopefully this is able to break that level and push lower, but regardless, I’m just going to monitor my current trade and not take another USD trade
Today’s Pair
NZD/JPY – Long
CAD – N – This made a new swing high yesterday, then closed lower. Today is up a little, and has pushed higher and lower on the day, but is sitting at the open. I think my outlook on this is turning bullish, but I’m not ready to actually take this long until it breaks out of yesterday’s highs. I’ll check back in on this tomorrow
EUR – N – This has started to somewhat base since it’s rally beginning a little over a week ago. I don’t love this to either side right now, so I’m going to leave it alone
GBP – N – This spiked yesterday, but looks like it’s returning to the downside today. That said, it hasn’t reached lows as low as yesterday, and the previous day’s low is even lower than that. I’m bearish here, but I want it to break out of Monday’s low again before I short it
JPY – S/N – This is down again and sitting on some support. This support level has held up since March 13th, so it’s fairly strong. This isn’t quite at the low of the range, but it’s right there, and if it breaks out of this range, it could drop pretty far. I’ll look at a couple JPY charts to see if anything makes sense, but I won’t chase since we’re not quite at the lows yet
AUD – N – This is up again today, and is above the range it was in, but it’s stuck at another level of resistance. If it can push through this level, it could potentially rise pretty high. I don’t like this enough right now to take a second position, but I’m happy with my current one and will continue to monitor
NZD – L/N – While this is up again, pretty strongly, it’s coming up to a point of resistance that’s held up since mid-March as well. I’ll glace at an NZD chart or 2 to see if there’s any potential there today, but I won’t chase
CHF – N – This has begun to range and is starting to no longer mirror EUR. It dropped pretty significantly on Monday and was down slightly yesterday, but it’s up a little today. I could maybe see trying to short this within the range, but I don’t love that right now, and I definitely don’t want to take this long at this point, so I’ll hold off, at least for this morning, but probably for the day