USD [S] – While it is pretty close to that lower trend-line (and has touched it, actually) I’m still bearish USD. Equities are up, and it’s had down days pretty much all last week, including yesterday and today. I think that it has some room to run, as it’s broken through the lower trend-line a couple of times, so I’m confident shorting this today
CAD [S] – Almost the same story as yesterday. The 20 crossed under the 50, it’s making lower highs and lower lows and it’s been down a little bit today. Again, I’d ideally like this to push through support before I’m super bearish on it, but it has a bit of room to go before it reaches support, so there’s still some opportunity there
EUR [L] – Since today’s open (yesterday at 4pm) this has moved up about 30 “pips” and down about 30 “pips” but is currently sitting right in the middle. It still looks like it has a ways to go before reaching the top of the range it’s been in for a while, so I’m still bullish here.
GBP [S/N] – I believe Maverick has this rated as long for this week, but I’m cautious about that. It did break out of the tight base it was in, but it stayed within the range that was created by a high back on 10/17. Also, this has quite a ways to run before reaching the bottom of the base/range. So, I’m more neutral here than anything, but I think I’m leaning toward being bearish if anything
JPY [S] – I’m definitely bearish JPY, but I’m not sure if it’s something I want to play today. It’s still in that range, though it’s broken out above it a bit, but it’s coming back. It’s on a down day today, and, actually does have a bit of room to go before reaching the bottom of it. Now that I talk it through, I think I do like JPY to the downside. We’ll see how the charts look
AUD [L] – I’m still bullish on AUD. It’s not showing signs of breaking through the lower support line, and there’s a long ways for it to run if it were to head back up to the top of the range it’s been in for the last couple of months. I’m cautious because I just got burned in AUD/USD (even though, looking now, if my stop was wider, I’d be in profit as of right now — but if my stop was wider, maybe the R:R wouldn’t have been there…. Who’s to say), but I need to forget about that, not take things personally, and trade the charts in front of me. If there’s a setup, I’ll trade it
Today’s Pairs
EUR/USD – Long
EUR/CAD – Long
EUR/JPY – Long
EUR/CHF – Long
AUD/USD – Long
AUD/CAD – Long
AUD/JPY – Long
AUD/CHf – Long
NZD [N] – I don’t think I want to take this in any direction today. It’s in a range, but kind of at the top of that range. If it were to break out, it doesn’t have that far to go before reaching the next resistance level, and as of right now, it’s showing no bearish signs. I’m going to leave this alone for the most part today, and see if it does anything later or tomorrow
CHF [S] – After being up last week (but still failing at resistance/the upper trend-line), it’s had a couple of down days. I’ve been bearish on this currency for a while, so to see a down day is a good thing. Similar to JPY and CAD, I’d like this to push through support, ideally, but there is still some pips to be made between where it is now and the bottom of the range/support level