I’m going to try to do this relatively quickly, as the markets open in 10 min. S&P futures are up slightly, NASDAQ’s up almost 1% and DOW is down over 1% (futures). I’m going to take the baskets at face value today
Update After Going Through RSW: It looks like I definitely want to take USD short, but I don’t have any good “Long’s” right now. I know we’re meeting this afternoon for the FOMC meeting, so maybe I’ll wait until then to actually trade — I’ll still look at a couple of individual charts just in case
USD – S – After being up a little yesterday, this looks convincingly down today. It hasn’t quite broken out of yesterday’s lows (or it just barely has and has since pulled back), so it looks like a good Short to me
CAD – N – This pushed lower yesterday, stalled at support and rallied, closing closer to it’s open. Today, it’s down again, but isn’t getting as low as yesterday’s low which is a level of pretty strong support and resistance. I’ll leave this alone
EUR – N – This is down slightly today — appears to have stalled out at that support/resistance level in the middle of the range it’s been in. If it can push up through that level, there might be some pips to be made to the top of the range, but it’s not looking like that’s going to happen right now. I’ll revisit later, possibly
Today’s Pairs
AUD/USD – Long
NZD/USD – Long
EUR/USD – Long
USD/CHF – Short
GBP – N – This is still showing a lot of indecision. Yesterday and the day before, price moved a decent amount but closed near the open. Something similar appears to be shaping up today. I’ll hold off on this
JPY – N – This rallied for 2 days, and is down only slightly now. I’d like to see this confirm it’s return to the downside before I got in, so I’ll hold off for now
AUD – N – This dropped pretty significantly yesterday, and while it’s up today, it is so only slightly and is nowhere near the highs from last week. If I don’t see anything else that looks OK Long, I’ll revisit this on individual charts, but for right now, I’m going to hesitate
NZD – N – Similar to AUD, except even today, It’s pulled back a little from the highs. It’s also right at a, what I’ll call, resistance “range”, so I don’t love this at this juncture. If it pushes above yesterday’s highs, though, I will
CHF – N – This has been pushing steadily lower for about 3 months, especially so for the last month. That said, yesterday’s candle was up strong, today has a little strength behind it, and the day before yesterday was down, but it closed near it’s open, didn’t make a new low and closed near it’s open. I’m not ready to be bullish on this, though that’s somewhat what the chart’s showing. I also don’t want to be bearish at this juncture so I’ll hold out