I don’t know…. I . .It’s neither here nor there right now…. I’ll do my RSW this morning, I suppose, and one day at a time? I guess?
Equity futures are down a bit today, but made a new high over yesterday. None of that matters to me right now, I’m going to take the charts at face value.
USD – S/N – This made a new low under yesterday’s, today, but has pushed up as well. Currently, price is sitting right near it’s open. If this can push back down to the day’s lows, this could be a great short
CAD – N – I’d like to look at this as a short, but it’s been hard to predict. Every time I think it’s going in one direction, it reverses. In addition to that, this is sitting on the support level from back in march, and isn’t as low as yesterday’s low. I’ll hold off for at least this morning and maybe revisit later. Maybe I’ll upgrade this to a short and look to trade it between today’s lows and yesterday’s. We’ll see, but yes, waiting for now
EUR – N – After running up for the last 4 trading days, this finally dropped. It’s fully within yesterday’s candle, so this could be a prime opportunity to take this long late tonight, early tomorrow. But right now, I have to leave it alone
Today’s Pairs
USD/JPY – Short
AUD/USD – Long
USD/CHF – Short
NZD/JPY – Short
AUD/NZD – Long
NZD/CHF – Short
GBP – N – This is up for the 4th day in a row, and the MAs are starting to slope upward. That said, it’s at the top of the range (though it did make a new high above the range — but didn’t really penetrate the previous support level). There’s a lot of signs of strength behind this right now, but I don’t feel comfortable taking this long here, so I’ll hold off until there’s some follow-through (?)
JPY – L/N – This is up for the 4th day in a row as well and up against some resistance. This could be a decent long to the next resistance level, if it can push back up through the day’s highs. I’ll take a look at individual charts, but I won’t chase
AUD – L/N – This is showing signs of pushing back up off of the 20 MA. That said, the day’s highs aren’t quite higher than the highs from June, but AUD already broke that level last week. This has pulled back from the day’s highs, but if it can push back up, I might like this. I’ll take a look at individual charts
NZD – S/N – This feels weird given my recent trading adjustments (paying attention to correlations and risk sentiment), but I think I want to look to short this today. It’s down pretty strong already, and has pushed to, and maybe slightly through, some support, and there appears to be a good amount of room before the next support level. Since I’m going back to taking baskets at face value today, I’ll look at individual charts to see if there’s opportunity to short this
CHF – L – This pushed up out of some resistance — and made a new high since May — yesterday, but fell significantly back to the top of the range. Today, it’s up almost as much as it dropped yesterday. If this can push up above yesterday’s highs, this could be a great long play, to the next resistance area