Equities closed lower yesterday and they gapped-down pretty significantly today. That said, price could — and just might — move higher on the day from this gap down, so I’m going to just take the baskets at face value
USD [L] – This made a higher low yesterday and a higher high today and is looking like it’s regaining it’s strength. It also still doesn’t really seem to be reacting to the market moves in the way we’d expect for the most part, so this could be genuine strength and not people moving to safe currencies. I’ll look for opportunities to take this long today
CAD [N] – After being weak since the end of February, this has somewhat made higher highs and higher lows, but barely and it’s looking more like a low base than a trend-reverse. I’ll leave this alone for now and see how it shakes out in the coming days
EUR [L] – This looks to be in a high base right now, but I’m definitely bullish on this. It’s pulled back a bit from today’s highs, but I’ll still look for opportunities to take this long, especially on a breakout/pullback
GBP [S/N] – This has looked weak over the last 4 days, but it’s been staying within the range it’s been trading in for a while (save for a few breakouts). Today, it’s continued it’s weakness but seems to have stalled out at some support and pulled back. I’m cautious here, and I won’t chase, but I’ll see if there are any opportunities to short this today
JPY [L] – There’s not a ton to say about this again other than it’s still showing a lot of strength. I’ll look to take this long
Today’s Pairs
GBP/USD – Short
AUD/USD – Short
NZD/USD – Short
EUR/GBP – Long
EUR/AUD – Long
EUR/NZD – Long
GBP/JPY – Short
AUD/JPY – Short
NZD/JPY – Short
GBP/CHF – Short
AUD/CHF – Short
NZD/CHF – Short
AUD [S] – This isn’t coming off the back of a pullback, and there’s a clear low that it hit when it spiked down on Monday, I think I’m ready to take this short again. The only thing giving me a bit of pause is the fact that it’s already moved almost 2% on the day, but I’ll still see if there’s any place where this makes sense
NZD [S] – This still appears to be in it’s low-base, but it is down today and if it can break out of that range, it could drop pretty far. I’ll look for opportunities to short this on a breakout
CHF [L] – This looks a lot like both JPY and EUR — it looks strong, and it looks like that strength is going to continue so I’m going to look for opportunities to take this long