I went to bed a little later than I would’ve liked last night, so I’m feeling it a little this morning. And I already know tomorrow’s going to be similar, but I’ll cross that bridge..
I didn’t do my EOD analysis last night, so I’m going to start with some takeaways from yesterday:
I mentioned already then that I took a trade, it triggered and stopped me out pretty quickly. I’ll have to double-check my strategy there because it’s in a short-term down trend, but looking at the daily chart, it still looked like it was keeping it’s longer term uptrend. Today, though, it has pushed under the 20 MA on the daily chart and maybe there’s more weakness there than I thought.
I also was already in AUD/USD from last week, and that popped last night. I moved my stop along the SAR on the 1h chart last night before bed and then left it alone. This morning I saw that I was stopped out, but it made another huge jump up. I guess the only way I could’ve caught that was if I was actively managing or something.. Hard to say. I followed my rules up until I went to bed, so I’m not too upset about it. Plus it was a small gain.
Today, the S&P is pushing up again, and it’s pushed above both MA’s, appearing as though the uptrend is continuing. However, it’s still a bit off of the highs. I still expect (and am already seeing) weakness in USD and JPY.
Glancing at the pairs I started looking at on Monday, everything seems to be reversing this morning. Might be worth doing another, mid-week, analysis of the baskets.
Dollar dropped hard this morning, and while it’s pushing against the lower band, they’re just now starting to expand, so I’ll look at this short
I don’t know if I want to pursue CAD, but I do want to mention what it’s doing. It’s been pushing up for 3 out of the last 5 days and has been riding the upper band. Today, it pushed up a ton, but ran out of steam and is now sitting near the lows. I want to like this long, but I also feel like I may have missed it. I’ll look but try not to chase
GBP has been on a tear over the last month (slightly less). Today, it’s down a decent amount, so it might be starting a dip that I can buy into. I’ll keep an eye on it, but not going to pull triggers today
Currency Direction
USD – Short
CAD – Long
GBP – Long
CHF – Long
Today’s Pairs
USD/CAD – Short
GBP/USD – Long
USD/CHF – Short
There’s some movement in EUR, JPY, AUD and NZD, but they’re largely in the middle of ranges right now. I don’t see strong movement or a ton of opportunity in any of those the rest of this week, right now. I’ll monitor each day, though.
CHF, on the daily chart took a dive on Monday, taking out the 50 MA and the lower band. Yesterday, though, it had a small push up, and today it’s continuing that with a larger push. This one is pushing above the 50 right now, and bouncing off of a lower band on the daily chart, so I’ll look at this long