Equity futures are down fairly sizable today — looks like a definite risk-off day. I’ll keep that in mind while doing RSW.
USD – N – This is already up a decent amount today, and since I’m overall bearish USD, I don’t want to trade this at this juncture. There’s potential that this is a reversal, but I’d like to see that more proven out before I pull the trigger long here, I’ll hold off. I’ll revisit this as a long play if I don’t see anything else I like
CAD – N – This is on it’s 4th down-day in a row, it pushed through a level that was the low of the base it was in, and pushed through the lower trend-line of the very slight uptrend it was in. That said, there’s still a lot of choppiness in the past here, and still some support at this level, so I don’t want to pull the trigger here today
EUR – N – Looks like late last night/early this morning was the time to take this long within it’s range. That said, while it is up fairly considerably this morning, it’s A) still within the range, B) stuck at another level of resistance within the range and C) has already pulled back a good amount from it’s highs. I’ll hold off on this for today, and maybe look to short it early next week within this range
Today’s Pairs
AUD/JPY – Short
NZD/JPY – Short
AUD/CHF – Short
NZD/CHF – Short
GBP – N – I don’t love the way GBP has been moving over the last 2 – 3 weeks. It’s based, and then pushed out of the base , but stayed within a range, and had a lot of candles with large wicks. It’s down today, but stuck at the top of the previous base and the bottom of the “New” base support/resistance. It could push lower through this level, but I’m not willing to bet on it, and even if I were, I don’t see the reward potential there
JPY – L – This is up significantly today, and coupled with the declining equities, looks strong. It looks like it’s already broken a couple of resistance levels, and is somewhat stuck at a previous support level, so I’ll definitely look to take this long today
AUD – N – This is down a lot this morning, but it’s coming off of the heels of a very strong up-trend, and is stuck at some support/resistance. With the risk-off sentiment, I’d expect this to continue down, but AUD can be tricky. I’ll revisit this if I don’t see any other shorts I like
NZD – N – Same thing can be said here that can be said about AUD. I’ll compare both to JPY to see which I like if either
CHF – L – This is rallying, and I like it to the upside, but I don’t love it right now. It’s stalled out at a pretty strong support and resistance level – that said, if it can push through that level, there could be a good amount of pips available before the next resistance level. I’ll look at taking this long today