The markets haven’t opened yet today, but in the S&P, price closed higher than it opened and is currently sitting at some resistance. Hard to get an idea of sentiment here, so I’ll see if there’s another way to tell and/or I’ll double check once the markets do open.
USD [N] – I was cautiously bullish here yesterday, but today, I almost feel cautiously bearish, so I’m just going to remain neutral. It pushed through the lower trendline, but is currently stalled out at a previous level of support (side note: There’s a chance that the current trendline is the old one, and it didn’t save my changes from yesterday). Unless this can push through support, I’m going to leave it alone
CAD [S] – This has somewhat stalled out at a level of support that has acted as a prior level of resistance, but it’s definitely made lower lows and lower highs over the course of the last month+. This will be much prettier when/if it can push through that level of support, but I still like this to the downside. Let’s see if there’s a pretty chart to trade
EUR [N] – I’m more bearish here, but the current candle is up, and there are signs that it could remain that way, at least during the day. This looked to be ranging for a long time, but now it’s looking like a long descending triangle, which is why I’m bearish here. All that said, though, it doesn’t look to be in a place where a great trade can be taken, so I’m going to leave this alone for now
Today’s Pairs
GBP/CAD – Long
GBP/JPY – Long
NZD/CAD – Long
NZD/JPY – Long
GBP/CHF – Long
NZD/CHF – Long
AUD/NZD – Long
GBP/AUD – Long
GBP [L] – I’d love to see some follow-through, but this has definitely pushed up through that level of resistance that was creating the high base. Depending on the chart, I’ll look for a bit of a pullback/base to buy into — especially as it has a decent amount of room before it reaches the next level of resistance
JPY [S] – This is still in that low base and is sitting right at support. Today’s been a down day as well, so I’ll love this if it pushes through, but I like it regardless. I’ll see how it looks against GBP and (probably) NZD
AUD [S/N] – This is still somewhat in that low-base pattern, and while it did push up through resistance yesterday, it wasn’t convincing and today’s been a down-day. I can’t, in good faith, go long here, but it looks like the bears are failing as well. I’ll see if this makes sense against anything else, to the downside, but FTMP, I think I want to leave this alone
NZD [L] – This is still showing signs of strength, and while it’s somewhat stalled out at a minor level of resistance, it’s already up .13% today — and that’s prior to the US open. I definitely still like this to the up-side, so we’ll see how a couple of NZD/XXX charts look
CHF [S] – After yesterday’s up-day, this appears to be resuming the descending triangle pattern. Even if it doesn’t break through support, there’s still a bit of room for this to go before it reaches the lows/support level, so I’m comfortable shorting this