Equities look like they’re beginning to uptrend, and while equity futures are down, they’re only down less than .5%. I wouldn’t be surprised at all if price gapped down a bit but then rallied. I think I’m going to lean toward that happening (risk-off day USD- AUD+), but we’ll see what the baskets look like.
USD – S – This looked like it was going to base, but only did so for one day. Friday, it pushed lower and made a new low, and has done so again today. That said, price has rallied and is back above yesterday’s low, and is sitting on some resistance again, but it’s pushed through this level once, and it looks to me like it could do it again
Today’s Pairs
AUD/USD – Long
AUD/JPY – Long
CAD – N – If I take April out of the equation, this has technically been trending up, steadily. That said, there’s been a lot of whipsawing happening during this “up-move”. Maybe when/if this rallies enough to break last Wednesday’s highs, I’ll look to take this long, but in the meantime, I’ll hold off
EUR – N – This is somewhat ranging, but I’m not even sure I’m comfortable saying that right now. There’s a part of me that wants to say it is ranging, and short this within that area, but I don’t like it enough right now, and price is currently sitting on some pretty strong support. It’s also coming off of a 3-day rally, and an overall up-move starting back on the 11th. I’ll leave this alone for now
GBP – N – This is still basing. I’ll hold off until it moves again
JPY – S – The same can be said about this that was said about USD right now
AUD – L/N – Gosh, I’m so apprehensive about AUD, but it looks like the only long option available right now. This pushed out of the small base it was in over the last 4 trading days, and has run into another level of resistance (though it’s already pushed through this level — it has since pulled back and is sitting near there). If it can break this level again, this could be a good long. I’ll look at charts to make sure the numbers are there
NZD – N – This appears to be high basing after finally pushing out of the range it had been in since late March. There’s quite a bit of room between current price and the top of the base, so I’ll hold off here
CHF – N – This looks pretty weak today, but is already sitting on some support. Also, there’s a good amount of room here between current price and the low of the base it’s in, so I’ll wait until this shows more signs of breaking out to look to trade this