Night Before Notes:
- USD – Basing now, so far on another up-move, but it’s small, we’ll see. If equities drop again tomorrow, I’ll definitely look to take this long
- CAD – Still in a base. Up again today (it gapped down), but well within the previous candle. I’ll probably hold off unless it drops sharply
- EUR – Ranging
- Ended up dropping a ton, and finished down on the day after being up .7% at one point — still ranging, don’t think I want to touch
- JPY – Ended up finishing higher on the day, but I’m still overall bearish. We’ll see tomorrow
- AUD – Ended up dropping, and closing lower on the day. I don’t love what it’s doing, so we’ll see how it behaves tomorrow
- NZD – Definitely looks to be continuing a base
- CHF – Also starting to base, and near it’s open for the 3rd day in a row. I might look to short this tomorrow.
Equities, after being down for most of the day, finished near the highs on the day. Today, futures are pointing to another up-move — assuming this one is sustained, I’ll assume a risk-on sentiment today.
USD – N – This is in a somewhat basing pattern right now, and even if this does drop on positive equity moves, I don’t think I love this at this juncture. Yesterday’s low is quite a ways away from today’s low, and price has already rallied some from the lows on the day. I’ll maybe revisit this this afternoon to see how it shook out over the morning
CAD – L/N – While today’s candle is much much smaller than the previous 4, it’s still within the base that CAD’s been in for that amount of time, and well within the range it’s been in for longer. Price has made a new swing high today, but has since pulled back to it’s open — this could be a decent long to the top of it’s range if it can break out of today’s highs again. I’ll take a look at individual charts, but I won’t chase
Today’s Pairs
EUR/AUD – Short
EUR/CAD – Short
AUD/JPY – Long
CAD/JPY – Long
EUR – S/N – This is at the bottom of it’s recent base, and sitting on some support, but is also in the middle of the longer-term range it’s been in since the beginning of May. I’ll continue to hold off on this until it really starts to move — unless of course, I have no other “shorts” today, I’ll take a look at this to see if there’s opportunity to the bottom of it’s range
GBP – N – This is also within it’s range, and at the bottom of it sitting on some support. There’s not a longer-term range in play here, if this can break the lows of this range it could run, but it’s still quite a few pips away from the very bottom of the range. I’ll continue to hold off here — maybe see about taking it long late tonight or tomorrow
JPY – S/N – This is in a somewhat high-base pattern, or maybe a bull pullback. I don’t like this to the upside at all if equities are strong. If they’re not, though, and this starts to push down again — I’ll have to just keep my eye on it — it might be a good short just down to yesterday’s lows. We’ll see
AUD – L/N – This is up a bit right now, and up against some resistance. It’s already pulled back from the days highs, but not that much, especially because those highs aren’t that high right now. If this can push up out of today’s highs, it’ll be breaking a resistance level, and there could be a good long opportunity there.
NZD – N – This looks similar to AUD, except there are multiple other levels of resistance between the day’s highs and the previous high that I would want to make my target. I’ll leave this one alone for now
CHF – N – This looks a little like JPY right now. The main difference being that today price is up .23% rather than down .15%, so in a risk-on environment, I like this one less. I’ll leave this alone for now