I’m late.. Fortunately, I only planned on doing an abridged RSW this morning and not actually trading. Equities gapped-up this morning, but have since been dropping. At a glance, it looks like nothing’s really moving right now, so I’ll take the baskets at face value.
USD – N – I like where this is at, but it has pulled back off of the highs. This looks ready to break out if equities are in fact weak, but it probably won’t happen until next week. I’ll hold off today
CAD – N – I haven’t liked CAD that much lately anyway, and since it doesn’t seem to be moving much today, I’ll leave it alone
EUR – L/N – I don’t actually expect much out of this today, but it is pushing up and right up against some resistance. If this can push up above the day’s highs, there’s room between here and the top of the range. I’ll take a look, but I won’t chase
GBP – N – This is still in that ascending triangle, but has already spiked this morning and pulled back off of the highs. I don’t think I’m going to touch GBP until it breaks this area, so I’ll hold off
JPY – N – This pushed up this morning, failed to make a new high over yesterday, and pulled back to near it’s open. This, like USD, looks primed to spike on some negative equity movement, but it’s a matter of when. I’ll hold off for now
AUD – S/N – This is the only thing pushing down, so I’ll take a look at it vs EUR. It’s sitting on the same support level it stalled at yesterday before rallying, so I’ll look for a break in that level to enter. We’ll see
Today’s Pairs
EUR/AUD – Long
This is sitting right at some resistance and looks great. The only thing giving me pause right now is the fact that it’s moving and I don’t see a tradable pattern. There may be a pullback forming on the 15 min. chart, hopefully it comes to fruition and gives me a good entry signal. I’ll hold off for now, as I’m not chasing, but I will set orders if this stalls here for a bit
AUD/CHF – Short
This is sitting on that support level, and looks to be in a bit of a base/finishing a bear-rally on the hourly chart. The only thing giving me pause here is the fact that I don’t see a great R:R at a glance. I’ll run the numbers, but this just might not be worth it.. Maybe a 1/2 position
NZD – N – This failed at a fairly strong support level yesterday and today it’s up a little, after not having pushed down all that far. I don’t love this here, so I’ll hold off
CHF – L/N – This is pushing up a bit already today and is sitting above some resistance. That said, it spiked yesterday and today hasn’t quite gotten that high yet, so it’s not perfect, but it looks decent enough that I’ll take a look at it on individual charts