Futures are down a good amount right now, but as I’ve been noticing, that often creates a gap-down (or up) but the price rises (or falls) throughout the day. I think I’m leaning more risk-off, but I’m mostly going to take the baskets at face value.
USD – N – Well, there goes my risk-off sentiment. Price is up a bit right now, but was up closer to .6% at one point. Now, it’s sitting near the open and looks like it’s lost momentum. This is tough, it’s kind of pushing back up now, and is up to +.15%, but it’s still closer to the open. Never mind, I’ll leave this alone for this morning and try to keep an eye on it
CAD – S/N – This broke the range it was in yesterday and looked weak, though price rallied and closed near the open. Today, it’s down again and broke yesterday’s lows, and is sitting in an area of a lot of support/resistance. That said, I don’t want this to end up like GBP with 5 – 6 down-days in a row and I never took a shot, so I’ll look at this to the short side
Today’s Pairs
CAD/JPY – Short
GBP/JPY – Short
EUR – N – I’m not sure what to say about EUR except that I don’t like where it’ at right now. This is still sitting at the support level it was at yesterday but today it’s up a little. I’m going to leave this alone for now
GBP – S – After a 3-day rally, this has dropped a ton today. It’s sitting on some support from back in July, and the low from before the rally is a decent ways below this level, so I’ll look at this to the short side today
JPY – L – This looks like it may have already made it’s move, but I’ll look at it to the long side. It’s up for the 4th day in a row and for the 5th out of 6. It broke some pretty major resistance levels, and is up against another one now. If it pushes through that one, there’s a good amount of room before the next one. I’ll definitely take a look at this
AUD – N – This is basing again/still. I’ll hold off
NZD – L – This is up a little bit right now, but has already made a new low lower than yesterday’s. That rally sounds like good news to the up-side, but price is right near some resistance that it failed to break yesterday. I like this to the upside, but not right now. I’ll try to keep an eye on it and see where it is later today
CHF – N – It barely pushed through some of that support from yesterday this morning, but has since rallied and is up a bit on the day. This hasn’t had much conviction behind it lately, and I could see this pushing in either direction, so I’ll wait until there’s confirmation of one or the other. Maybe tomorrow or next week