Equities made slightly new highs again yesterday, but pushed down for most of the day. Futures are looking weak as well, but only down .4% right now. Still looks to be not a ton of volatility in the equities, so I’ll take the baskets at face value.
USD – N – This broke a pretty major support level yesterday, but rallied shortly after and finished up quite a bit. Price is currently sitting at it’s open, and right around some prior support/resistance. I don’t love this, now, so I’ll wait until this returns to the downside, or reverses it’s trend in the coming days
CAD – N – This appears to be regaining some of it’s strength, but has pulled back fairly considerably off of the day’s highs already. It also got to just under some resistance before it dropped. I don’t love this to either side right now, so I’ll hold off
Today’s Pairs
NZD/CHF – Short
EUR/NZD – Long
EUR – L – This is showing signs of strength today, but it’s still within the range it’s been in for the last 5 days — the argument could be made that this actually formed more of a bull pullback. I don’t love this to the upside right now as it’s pulled back from the highs and is near a lot of levels of resistance, but I’ll keep my eye on it to see if it gets momentum
GBP – N – This is up a good amount today, but it’s still within the range. Despite this “breaking out of the range” 2 days ago and then yesterday, it dropped back into it by the end of the day yesterday. Even if this does break out, I’ll have to wait for confirmation before I take this long, but maybe at the end of today, I’ll look to short this within the range
JPY – N – This is up for the 5th day in a row (though one of those day, this made a new swing low), and looks strong on the day. That said, it’s sitting at a pretty major resistance level that’s been both in the past. I’ve been overall bearish JPY, and just waiting for it to return to the downside, so I haven’t traded it in this run, and now it looks like I missed it. I’ll wait until this either returns to the downside or breaks some of this resistance and becomes bullish
AUD – N – After pushing up to, and at a couple points through, the top of it’s range, this looked like it had some breakout potential; but it barely broke those highs (and didn’t quite get up to even the highs this made when it broke out (before quickly dropping) at the end of July) and has been very weak since. Today, price is down a good amount, but it’s sitting right on top of that support level that makes up the bottom of the base. I’ll hold off on this for now
NZD – S – This dropped a ton today, and it might’ve already dropped too much. It did break some support though and is above another level of support so I’ll try to find some opportunity there
CHF – L/N – This dropped a ton yesterday, and it looks like it’s taking back all of those losses today. That said, it’s already moved up a ton and is sitting right at some resistance. It is close to pushing through and there’s a case for some room to the next resistance level, so I’ll take a look, actually