Equities gapped down this morning, but have largely been pushing up since the open. I expect this to fill the gap and continue upward for at least the rest of the day, but probably through tomorrow.
USD has been pushing down for a while and pushed through what I’d consider to be a retest area. I’m imagining equities continue to push up, and so this should continue to push down. That said, price is stalling right at the 20/50MA — I’m just using this to inform actual charts, so I’ll consider this short — or neutral. Upon further observation, this has been steadily rising since June of last year
CAD double-topped and is threatening to break the bottom of that area, so I’ll definitely look at this short
Holy. Crap. EUR is on a tear this morning, up 1% already, and taking out the highs of the base it’s been in since early December and the top Band. It looks extended already, but I’ll make that determination on individual charts
GBP pushed up a ton this morning, too, but has already retreated back to near it’s open. I’ll take a look at this long, to see if it’s a retest on individual charts, but I won’t chase
Today’s Pairs
NZD/CAD – Long
EUR/CAD – Long
GBP/CAD – Long
AUD/NZD – Short
JPY coming down strong this morning, but isn’t doing enough for me to consider this a reversal, so I’ll just hold off
AUD, over the last few weeks, have been making what appear to be reversal moves to the upside. That said, it’s been pushing down since the beginning of the year and has had some major rallies during that time. This, right now, appears to be one of those large rallies, so I’ll hold off until it meaningfully breaks the highs or starts to push down more consistently
Similar to AUD, this has been pushing down since the beginning of the year, but has made some reversal-looking moves recently. That said, this reversal looks more well-formed, as it has pushed up through the falling trendline fairly meaningfully. On top of that, it’s at a resistance area that was prior support, and there’s some room to the next resistance level. I think I’ll look at this long today
CHF has returned to a lot of it’s choppiness, and it always makes me nervous anyway, so I think I’ll hold off
AMD Short @ $120 — Came up on the watchlist as a long. Looking at the daily chart, though, this has been pushing down for the last few weeks, and it gapped up this morning, so I’m anticipating a gap fill. I’ll buy a 120 put if price breaks that level
**Note, if I’m trading spreads again, I need to implement my same time/price exit rules. Don’t want them to get anywhere near expiration — can always reevaluate the spread and re-enter