We got drunk again yesterday, so I’m not at 100%, but I managed to drag myself out of bed so I could get to work! It’s fairly close to the open, so I’m not terribly worried about futures — they’re pretty flat anyway. I’ll take things at face value and see if there’s any opportunity
USD – N – This has been down pretty strong for about a week, but it’s up a little today. That up-move isn’t convincing, though, so I’m not going to take this long, but it is enough that I don’t think it’ll reverse on the day, so I don’t’ want to short it. I’ll wait on this for this morning
Today’s Pairs
AUD/CAD – Long
NZD/CAD – Long
CAD – S – This has pushed through some support and is heading down. This is the third day of a lower high and a lower low, and while there’s a little more support below this (because this has been moving pretty strangely over the last 3 weeks), but I still feel comfortable shorting this
EUR – N – This is down a bit today, but still in it’s base (though, within the base, it appears to be trending down). I’m already short EUR, but I’m not super excited about this, so I don’t want to take a second short position here, so I’ll just monitor my current trade for now
GBP – N – This actually looks like it has a lot of upside potential — it’s on it’s 5th up-day in a row, and while it’s stalled out at some resistance, if it could push through that, there’s a good amount of room this could run. That said, today’s candle is moving upward a bit more slowly than it had in the past and I’m already in GBP, so I don’t need to be in a second position, I’ll just monitor my current trade
JPY – N – This is on a small 3 day rally, but the upper wicks of the previous 2 candles are pretty long and price closed closer to it’s low/open. This isn’t a strong enough rally for me to take this long, but it is strong enough for me to not take it short, so I’m going to leave it alone
AUD – L – This is in a bit of a high-base, and it looks fairly strong. I like this to the upside on a breakout, but it is AUD, so I’ll be cautious with whatever play I make (if I make any at all)
NZD – L – This looks a bit like AUD, but the up-move is less sustained. I don’t love this to the upside, but there could be some potential. I’ll look at a couple of charts, but I won’t chase
CHF – N – This is in a base, and 4 candles in a row have very small bodies (and not terribly long shadows either). There seems to be a lot of indecision with CHF right now, so I’ll wait until there’s confirmed direction before pulling the trigger here