It’s 9:00 and I’m finally getting started. Somehow I had a late start waking up this morning (not sure what was different) and I didn’t help my situation by playing on my phone for most of the morning (and cleaning). Good thing it’s Friday, and I wasn’t 100% sure I was going to trade today anyway.
USD [L] – While it’s not showing as much strength as it did yesterday, it’s still up and does look bullish, I’ll see if I can take this long somewhere
CAD [N] – This is up a decent amount today, but didn’t reach the highs it reached yesterday. While it is making somewhat of higher lows at this point, it still looks to be in that low-base pattern. I’m going to leave this alone for today
Today’s Pair
GBP/USD – Short
EUR [N] – This has been bullish for nearly a full month now, but is down a bit today. It still made a higher high on the day, and it’s low is higher than the previous low, so I’m still bullish here, but since it’s down today, I don’t want to trade it. I’ll wait until next week
GBP [S] – This continued it’s weakness, and while it pulled back quite a bit yesterday, it’s down again today and sitting RIGHT ON, if not a little below, support. I like this to the downside even if it is just to today’s lows, I think
JPY [N] – This has been bullish for quite a while, but had a large drop-off today. Now it looks to be more in a high-base pattern. I’m not ready to say this is reversing to the downside, so I’m going to leave it alone
AUD [N] – This dropped a lot yesterday — reaching lows that it reached when it spiked down on Monday. Today, though, it’s up a little bit. I don’t want to short this since it’s up, and I’m definitely not ready to say this is reversing it’s trend so I’m not going to take it long, so I’m leaving it alone for today
NZD [N] – This was in a low base pattern for 8 days (save the big spike down on Monday), and appeared to break through it to the downside yesterday. It’s reversed today, though, and now price is sitting at the bottom of that low base which is acting as resistance. This moved up enough today that I’m not going to short this rally, and since I’m overall bearish here, I’m not going to take this long right now. I’ll leave this and revisit next week
CHF [N] – This has been bullish overall for about a month now, but is on a down day. It’s pulled back closer to it’s open, but it still looks weak. This would have to reverse quite a bit before I’d be comfortable taking this long again, so I’ll leave it alone and see if that move happens Sunday/Monday (I may even glance again at the end of today)