Equities just about reached a resistance level yesterday, though it didn’t quite reach the top. That said, futures are down today, and Robb, on the webinar, had a good point that he thinks there’s going to be some unrest this weekend and we’re going to drop on Sunday, so due to both of those, I’m looking at risk-off trades today.
USD – S/N – This is steadily pushing down, and still sitting right on that support level. I don’t expect this to pop on a risk off day — not much anyway and it’s pushed through a couple of strong support levels, so I’d be comfortable taking this short today, as long as I made sure to get out before the end of the day. I’ll take a look
CAD – S/N – This has been steadily pushing down over the last 3 days, and has just stalled at some support. It’s in a bit of a base on the hourly chart, and still looks weak. I’ll take a look at this to the down-side
EUR – L/N – This is pushing up fairly strong off of the bottom of it’s range. On the hourly chart, it’s made higher highs and higher lows and has closed above the MA’s which are starting to cross over. It’s stalled at some resistance, so I’ll take a look at taking this long today
GBP – N – GBP is still in it’s range and still moving too unpredictably for me. I’ll continue to hold off here for a bit
JPY – N – This hasn’t been moving with much conviction at all for the last couple of days. I think I’m just going to go ahead and leave this alone for now
AUD – S/N – This pushed up over the last 4 days, but stalled yesterday and is still in a longer-term downtrend. On the hourly chart, price has made reversal-type moves and is below it’s MA’s. Honestly, I think I’m only looking at this Short because Robb/Maverick said it’s probably a good idea and I need to do something slightly differently, so I’ll take a look here
NZD – N – This is up a good amount on the day, though it’s been pulling back for the last few hours. That said, it’s still above it’s 20 MA and they’re both still sloping upward. I’ll hold off here
Today’s Pairs
EUR/USD – Long
This was in a decent high-base, but looks like it’s broken out already. It’s since pulled back, but I might have to act quick — I might miss this one
EUR/CAD – Long
This is pushing up off of the bottom of a longer-term range, and is in a pretty clear bull pullback on the hourly chart. I’ll run the numbers here
EUR/AUD – Long
This doesn’t look like it’s made a trend changing move. I don’t feel too comfortable taking this long yet so I’ll hold off
USD/CHF – Short
This looks pretty extended already on the hourly chart. It may base around this level for a while, and if it does, I’ll reconsider, but it probably won’t come to fruition with it being Friday
CAD/CHF – Short
This is just moving sideways on the daily chart, and even if it does push down, I see less than 20 pips of room for this to run. I’ll hold off here
AUD/CHF – Short
This is pushing down off of the top of a range on the daily chart. On the hourly chart this doesn’t look extended and is forming a decent bear-rally. I’ll run the numbers and possibly take a shot here
CHF – L/N – This is up quite a bit on the day, but it looks kind of extended to me. That said, on the hourly chart, it’s in a bit of a bull pullback, so I’ll look at individual charts, and not be dissuaded by the basket