Equities stayed in a small range on Monday and most of Tuesday before it broke out of it and made another new (recent) high. Futures are up as well (and USD and JPY are down quite a bit), so it looks like it’ll be risk-on again today but I’ll keep that in the back of my mind and give the charts’ information priority.
USD – S – This pushed down strong, rallied at the end of July and beginning of this week pushing up just about to it’s 20MA before falling again. Now, price is right near the levels from last week that were the new lows in 2 years, so this looks quite weak, I’ll look for opportunities to short it
CAD – N – This rallied yesterday after beginning the day down slightly, and is up again right now, which is it’s 4th up day in a row. It’s pushed up above the 20MA but hasn’t quite reached the 50MA. This is still down-trending, and even if I were to play counter-trend here, it’s already pushed up too high for me, so I’m going to leave this alone for today
EUR – N – This is officially basing and has a good amount of room before the breakout level, so I’ll hold off here
Today’s Pairs
AUD/USD – Long
AUD/JPY – Long
GBP/USD – Long
GBP/JPY – Long
GBP – N – This appears to be on maybe a pullback right now, but I’m not quite ready to take this long, I’ll wait for a little more confirmation to the upside before I look to take this long — or confirmation of a return to the downside to take this short. Either way, I’m holding out here
JPY – S – This is down a good amount today, and it took out the support level that’s been holding up for 3 days. There’s a good amount of room between here an the next support level, too, so let’s see what this looks like on individual charts
AUD – L – This is up strong today (as the safe-haven currencies are down), and it took out some recent resistance. There’s a good amount of room before the top of this range, too, so I’ll look for opportunities here
NZD – N – This has pushed up (quite a bit actually) on the day, and down some on the day and is sitting right near it’s open. The down-move it made didn’t quite get as low as yesterday’s low, either, and that’s right near a pretty major support level — I don’t see much room below just that level. I’ll hold off here and see if maybe it can push through the “real” support level, which is when I’d think to short this. Also, we’re in a pretty clear risk-on day, so I shouldn’t be looking to short this anyway
CHF – N – This is basing now too, and curiously up when equities are, too. I’ll hold off here until it shows some direction more clearly