It’s a bit late, and we have to check out in an hour so this will be an abridged RSW this morning. Still going to take the baskets at face value and not play breakouts right now.
USD – S – This looks like a breakdown — it’s sitting right on some support after a 3 day rally. At the very least, I can look at this to the bottom of it’s range
CAD – N – This is still ranging and not really showing much conviction in either direction
EUR – L/N – This is probably overextended already, but it’s up significantly today and just broke some minor resistance. I’ll take a look at individual charts, but I won’t chase, or ask for too much
GBP – S/N – This is down strong for the 4th day in a row, and has been pushing down for 6 days in a row now. On one hand, that looks like activity I don’t want to miss, but on the other hand, that’s a lot of large movements and the bulk of the run could be over. I suppose that’s trading. I’ll take a look but won’t chase
Today’s Pairs
EUR/USD – Long
USD/CHF – Short
EUR/GBP – Long
GBP/CHF – Short
JPY – S – This isn’t down much today, and it’s sitting on a fairly weak level of support. Even if it does push through this level, the next level isn’t very far away. I’ll hold off for now
AUD – L – Similar to the above, this is up, but not with much momentum and it’s right near a minor resistance level with another one not too far outside of current price. I’ll keep an eye on this, but hold off
NZD – N – I can’t tell if this is a bear rally, or a shorter-term bull pullback so I’ll hold off
CHF – L/N – This is up a good amount on the day, but is up against some resistance that’s held up occasionally over the last couple months, but has also been broken in the same time period. I’ll take a look at this to the long side to see if there’s any opportunity on individual charts