There appears to be no dancing around it today. Yesterday, equities pushed up above that mid-June level again, and while it didn’t close at the highs, it still closed above that level. Futures are already up almost 1% as well, so this is definitely a risk-on day.
USD – S – This pushed through that resistance it’s been stuck at for a while, even pushing through lows from mid-June that have held up. It’s somewhat stalled at that level right now, so hopefully there’ll be clear entry/stop areas
CAD – N – I’m still overall bearish CAD. This pushed up again yesterday, but again failed at it’s 20 MA. IF this can push back down to and through the lows from last Wednesday, then I’ll look to short this (or if it makes a reversal move, I’ll look to take it long) but for now, I’ll leave it alone
EUR – N – This made a false breakout yesterday, as it’s dropped pretty significantly already today and is still in the middle of the long-term range it’s been in. I would look to short this today, but I think there are more clear shorts available. If I don’t see any, I’ll revisit this, but I think it’ll be fine
GBP – N – This pushed up quite a bit yesterday, stalled out at the 50MA, pushed a little higher than that today, but is currently sitting near the open, right around that 50MA area. I’m just going to leave this alone for now since I think there’s going to be more obvious trades/pairs to look at
Today’s Pairs
AUD/USD – Long
AUD/JPY – Long
AUD/CHF – Long
NZD/USD – Long
NZD/JPY – Long
NZD/CHF – Long
JPY – S – Similar to USD, this pushed down a lot already today and is stalled out at some resistance. If it can push through that level, this looks like a great short, and if it continues to stall around this level, there should be a clear entry/stop point
AUD – L – This finally pushed higher, and pushed up above the levels from early June that it had yet to reach. Especially in a risk-on day, I like this to the upside
NZD – L/N – This pushed up a good amount today, but failed at a resistance level that was support back in January — and it didn’t get quite as high as the new high it made last Monday. I like this to the upside as it’s up a good amount and it’s a risk-on day, but there’s a lot of resistance that gives me pause. I’ll still look at individual charts, but this isn’t my favorite
CHF – S/N – Similar to NZD, this is down a good amount today, but failed to reach the “breakout” levels that would really excite me. I’ll still look at this for the same reason I’m looking at NZD, but again, it’s not my favorite