I’m not 100% sure what to do this morning. I don’t want to trade until next week, but I also don’t want to not look at the markets. I also don’t want to do a full analysis, not pull the trigger anywhere and find out my analysis was correct and I would’ve had a great trade.
So, I think I’m going to talk about the currencies, but not give them a Long or Short rating, and then just keep an eye on things. We’ll see how that goes.
Equities had a nice up-day yesterday, finishing up 1.24%, but my AUD/USD long trade was a fast loser and as of now it’s down quite a bit (which is why I’m not trading today). Futures are down almost 1% today, so there appears to be a gap-down coming followed by ?? We’ll see.
USD – Unfortunately, I’m only on the free version of TradingView so I can’t dive into the hourly movements of this, but this pushed down almost .4% yesterday, but it must have happened early before I got into my trade. Today, seemingly with futures looking weak, this looks strong, but not in a position where I think it’s a good idea to buy
CAD – Of course CAD has pushed through support again, and is looking incredibly weak. I say of course because I’ve been waiting for this to happen again for a week, and then again for 3 days. It may have pushed down as far as it’s going to go, but maybe not. Looks like it would make for a good short today
Today’s Pairs
EUR/CAD – Long
GBP/CAD – Long
CAD/CHF – Short
EUR – Today, this touched the high from the end of the rally back on Monday, but has since pulled back. This looks like a great long opportunity if it can break out of that area again as it started to base a bit after the big run-up late last week ending Monday
GBP – Welp, looks like I was wrong about GBP yesterday. It closed higher yesterday and today it pushed up .6% and is stalled at resistance that made up the base in the first half of June. This could potentially be a good long if it breaks this area
JPY – This had 4 days of strength between last Tuesday and Monday, but has based for the couple of days since then. Today, price is up a bit, but still within that base.
AUD – Despite equities being up one-and-a-quarter percent, this barely pushed up and actually closed closer to the open than the top. Today, there’s weakness in equities and there’s weakness in this, but not enough that I’d be comfortable shorting it
NZD – This did push down through some of that support and back into that range from back in June. It’s down again today, and further into that range, but stalling out at the 50MA. This might be a reversal, and could be a great short to the bottom of the range, or this could be the deepest this is going to pullback before shooting back up again. We’ll see what happens
CHF – This is up for the third day in a row, though the first two days remained within a bit of a range. Today, though, this pushed up out of that range, through a couple of levels of resistance, but stalled and is sitting at another level of resistance. With the weakness in equities, this could be a decent long