Equity futures are down for the third day in a row. This could be a little pullback, but even if that’s the case, there’s a bit of room before this comes back to that support level. I’m going to lean toward risk-off today.
USD – L/N – This is up a good amount already today, and is now up against a pretty strong resistance level. There’s another resistance level not terribly far outside of the one it’s currently at, but I’ll have to see what that looks like on individual charts.
CAD – N – This appeared to be basing, then looked like it may have broken out of that base, but then it quickly pulled back. Today, it’s pushed quite a bit higher on the day and quite a bit lower, but is sitting at it’s open. I don’t like CAD right now, so I’m going to leave it alone
EUR – L – This is up a decent amount today, and it is coming off of the bottom of it’s range, but already it has a pretty long upper shadow as it’s pulled back off of the highs. It does still look strong, but I don’t see much opportunity right here. I’ll keep an eye on it, though, to see if maybe it pushes further up throughout the day
GBP – N – This, while seemingly is trying to push up, isn’t making new highs. Overall, I’d say it is making higher lows, but the highs are roughly even. If this can push up high enough to break out of this range, it’s definitely worth a look, it’s just a matter of catching that move when it happens. I’ll leave this alone for this morning as it’s pulled back off of the highs already, but I’ll keep an eye on it
Today’s Pairs
AUD/USD – Short
AUD/JPY – Short
AUD/CHF – Short
NZD/USD – Short
NZD/JPY – Short
NZD/CHF – Short
JPY – L/N – Like USD, this has spiked today, but it’s already pushed through one resistance level and is sitting near another one. There appears to be more room above this level, so if it continues it’s strength, this could offer quite a few pips. I’ll take a look at individual charts to see how this looks
AUD – S/N – I’m falling into the AUD trap again. It’s down quite a bit already on the day, and I’m expecting today to be risk-off so this could continue to drop. It’s sitting right on top of a pretty strong support level, too, so if it can break this area, there should be a lot of pips available. I’ll take a look at individual charts to see where the opportunity is
NZD – S/N – This looked like it had some strength yesterday, but closed at the bottom of the day’s range/at the open. Today, it’s down pretty strong and is sitting right on top of some support. Again, if it can break this level, it could push down a good amount. I’ll take a look here
CHF – L/N – This pushed up a ton today and pushed through a pretty strong resistance level. It’s up against another resistance level now, so again, if it can push through the day’s highs, it could run pretty far. I’ll take a look