Equities closed a little higher than they opened yesterday, and today futures are up over 1%. Since it’s Friday, I don’t expect anything major to happen, so I’m actually going to assume a risk-off sentiment, as I’m going to err toward equities dropping once they open, rather than continuing up.
USD – N – This is down a good amount today, but it’s still well within a base. I’d want to take this long with a risk-off sentiment, but it’s down, and they highs I’d want it to break are pretty high. I’ll leave this alone for today
CAD – N – This is still ranging, and has even more indecision behind it. Price has moved up and down a little today (though still staying within yesterday’s candle), but is sitting right at the open. I’ll leave this alone and see what happens with it next week
EUR – N – This is also continuing it’s range/base, and is sitting near it’s open. Yesterday, it pushed about .4% higher and about .3% lower, but closed near it’s open, and stayed within the previous day’s candle. Today, it’s done something similar — pushed higher and lower, stayed within yesterday’s candle, and is sitting right at the open. I don’t love this to either side right now, so I’m going to leave it alone. If it breaks out in either direction next week, I’ll look to play that
Today’s Pairs
AUD/JPY – Short
GBP/JPY – Short
GBP – S/N – This is down pretty strong again today, but I’m already in a GBP trade. I don’t know if I like this enough to take a second position but I’ll glance at a couple of charts just to be sure
JPY – L/N – After looking like a bear rally had formed and this was going to break out, it stalled at some resistance and is down today. If anything, I’d want to take this long today, but not at this point. I’ll keep my eye on the basket and maybe revisit if it starts to push up, but I’m not going to look to trade this yet
AUD – S/N – This is up a good amount today, but is still within the base it’s now formed. I’d actually like this more to the downside today, given my risk-off sentiment, so maybe I’ll look to see if any trades in that direction make sense if this does in fact reverse early. I’ll do the same with JPY
ND – N – This is in a pretty strong base, now, and over the last 4 days, the candles all have long shadows, which I don’t love. I think I’m just going to leave this one alone for today, and see if it begins to move next week
CHF – N – This is in a bit of a base, too, and I definitely don’t like this enough to take a second position, so I’ll just leave this alone