Oh man, I didn’t mean to start this at 8:30 — fortunately, I planned to do an abridged version anyway since it’s Friday and I’m already in a trade. Since it’s 8:30 the market is now open and equities are looking weak out of the gate. This bodes well since I’m currently long USD. I’m going to assume a risk-off day, but probably not take anymore USD positions
USD [N] – This is steadily moving up, but the bodies of the candles are getting smaller and smaller. I’m overall bullish here, but I’m already in a trade and I don’t like what I see enough to take a second USD position (unless I take a second position in my current trade)
CAD [N] – I’m feeling pretty bearish on CAD but it is stalled out at some support. I don’t want to pull the trigger here today, but I’ll keep an eye on shorting this on Monday
Today’s Pairs
EUR/AUD – Long
GBP/AUD – Long
AUD/JPY – Short
AUD/CHF – Short
EUR [L] – This pushed above it’s upper trend-line pretty strongly, but there is some resistance that it’s stalled out at. This may be a trend-reversing move, so I’ll keep my eyes peeled for a long EUR trade
GBP [L] – This broke above the base/pullback and is showing some follow-through. There is some resistance where price currently is, but there still appears to be room for this to run. I’ll see what individual charts look like
JPY [L] – Risk-off day, I’d expect this. There is some pretty strong resistance where price currently is. I’ll see what individual charts look like
AUD [S] – This is making lows, possibly lower than it’s ever been. Who knows how far this can fall, I’ll look to short this
NZD [N] – This looks like a pretty good short but A) It’s sitting at some support right now and B) I’m already in a NZD trade and don’t like it enough to get into a second one
CHF [L] – This is showing signs of strength, but it is at a point of resistance that’s essentially held up for essentially 5 years (it’s broken through it maybe 3 times, but each time has reversed within 3 days, usually the same day). I’ll see what individual charts look like, but I definitely want to play a breakout here to make sure it is in fact going to push through this level