Equities have been strong so far this month, and futures are pointing to another gap-up. I’ll err toward a risk-on sentiment, but I’m mostly going to take the baskets at face value.
USD – S/N – Friday’s candle was down, but ended up rallying a bit and closed closer to it’s open. Today, price is down again, but hasn’t pushed lower than Friday — and is sitting right at some support. If this can push through Friday’s lows, this might be a good short, so I’ll take a look at individual charts to see, but I won’t chase
CAD – N – At this juncture, I’m a little more bullish CAD than anything. Today’s candle, though, is down, despite having pushed higher than Friday already. I’ll revisit this this afternoon to see if it has headed back up, but for now, I’m going to leave it alone
EUR – S/N – This is still ranging, and it’s roughly in the middle of that range sitting at some support. It’s already pushed lower on the day once, so if it can push through the lows, there might be some opportunity to make some pips to the bottom of the range it’s in. I’ll take a look at a chart or 2 to see if it makes sense anywhere
GBP – N – After breaking out of it’s range last Tuesday, it pulled back to within the range, but on Friday, it broke out again and made another new swing high. Today, though, it’s down again, quite a bit. Since last week, this made 2 new swing highs, I don’t want to try to short this within the range since the range isn’t really holding up, so I’ll hold off for at least this morning
Today’s Pairs
NZD/USD – Long
EUR/NZD – Short
AUD/USD – Long
EUR/AUD – Short
JPY – N – After being down, significantly, for 10 days in a row, this is up slightly today. I definitely don’t want to take this long, and since it’s up, I don’t want to short it here. I’ll keep my eye on it, and revisit later if it does begin to become bearish again. It might not be until later this week
AUD – L/N – This has been up since the beginning of June, but it hasn’t been tat strong. Last Monday and Tuesday had strong up-days, but while Wednesday and Thursday finished up, technically, it was very close to the open, and well below their daily highs. Friday was strong again and pulled back but not nearly as much as Wed. and Thur. Today, again is up, but within yesterday’s candle. If this were to become strong enough to push above yesterday’s highs, I’d really like this to the up-side, so I’ll take a look at individual charts to see if that makes sense anywhere
NZD – L – This made a new swing-high already today, but has since pulled back some. That new high pushed right to the top of a resistance level, too, so if it can break out of today’s high again, it’ll be pushing through some pretty strong resistance and could run pretty far. I’ll definitely look to take this long
CHF – N – This has been weak since the beginning of June, and had quite a big drop on Friday, but today, price is up slightly. If this reverses back to the downside (maybe this afternoon, maybe later this week), I’ll look to short it, but not here