Equities dropped near the end of the day, as well as futures. Leaning Risk-Off again tomorrow (this morning)
Futures, now, are climbing and are up almost 1%, so I’m going to shift my outlook to leaning toward risk on for today and possibly tomorrow (though we’ll see how that shakes out in the class).
USD – N – Since overall, I’m leaning risk-off, I don’t think I’m going to look at this to the short side today. It may be a risk-on day but that could change quickly and since this is sitting right on top of a pretty strong support level, I don’t see this pushing far enough down that it’d be worth it. I’ll leave this alone for this morning and maybe revisit this afternoon
Today’s Pairs
GBP/CAD – Long
NZD/CAD – Long
CAD- S/N – I haven’t loved CAD lately, but today looks interesting. It had pushed up quite a bit earlier today, but is now sitting near the lows of the day, on top of some support. There’s a good amount of room just to the bottom of this range, so I’ll take a look at this to the short side
EUR – N – EUR is steadily pushing higher over the last 2 weeks, but it’s doing so very slowly with a lot of whiplash in between. Today, it’s pushed both up and down a little over .2%, but is now sitting near it’s open, so I’ll leave this alone
GBP – L/N – For the same reason I’m looking at CAD short, I’m going to look at this long. It looks like a lot of the selling pressure was exhausted as today’s candle has a huge lower shadow and is sitting near the highs of the day. There is a lot of areas that could be considered resistance, though, so it’ll be hard to tell where to pick a target, but I’ll still look at individual charts and make the decision without chasing
JPY – N – Exact same thing as USD
AUD – N – Same as USD and JPY but inverse
NZD – L/N – This broke out of the range it’s been in for the last 5 days to the upside, and is stalling at another level of resistance. Above today’s highs, though, there looks like there could be a decent amount of room to the next resistance level and it doesn’t look like it’s too far away that it’s unrealistic. I’ll take a look at a couple NZD charts today
CHF – N – This is still ranging and already sitting pretty far off of the day’s lows, so I’ll leave this alone