Equities dropped a lot yesterday — I didn’t even realize, but it makes sense that my AUD/USD trade worked out. Futures are down almost 1% as well, and while they certainly could bounce, It’s looking like a risk-off day.
USD – L – This is up again this morning, and once again, stalled out at a resistance level. This one from back in July. If it can continue to push up and out of this level, the next one should offer a good amount of pips. I’ll take a look at individual charts to find out
CAD – N – Counting the wicks, this is fully within yesterday’s candle, also at current price, it’s right near both support and resistance. I can see why people are trying to take CAD long, but there’s too much back and forth for me, so I’m going to leave it alone
Today’s Pairs
AUD/USD – Short
NZD/USD – Short
AUD/JPY – Short
NZD/JPY – Short
EUR – N – This made a slightly higher high than yesterdays, but failed at some resistance. It pulled back pretty far off of the highs, too. I could see a scenario where I could make a case for taking this long, but I think there are going to be better long opportunities today and I’m not sure if this risk is worth it. Maybe I’ll revisit later if the other pairs offer less than 1.5 R:R
GBP – N – I wasn’t expecting this, but pound had a big rally this morning. It’s stuck at some resistance right now, but it also looks pretty extended on the day. I might be coming around to being bullish GBP again, but I have to give it another day or so to actually shake out
JPY – L – This is up a good amount. It stalled at some resistance and pulled back slightly and it’s a risk-off day. I don’t know what else I need to say
AUD – S/N – I’m nervous because AUD has been tricky for me in the past, but that said, it looks like the correlations are returning. This is down strong again today, and sitting on top of some support. Here, the next support level might be too close for a solid R:R, but I still want to look at individual charts to find out for sure
NZD – S/N – This is down a good amount this morning, and has stalled out at some support and rallied off of the lows. It’s not down quite as much as AUD, which makes me feel a bit better about it — may not be as extended — So I’ll take a look at individual charts to find out
CHF – N – This looks a lot like EUR right now, where it spiked up, made a new high, but pulled back well off of those highs. I like a couple of other currencies a lot more this morning, so I’ll leave this alone