Hung over … Again. Oh well… I read this morning that equities are expected to get hammered again, so I’m not going to look at futures. I’m going to assume that’s the case and keep that in mind as I look through the baskets.
USD – N – This is on another up-day, but it’s still not breaking the highs from Friday. I’m going to wait until this shows me confirmation of a reversal, or until it heads back down
CAD – N – This ended up having a fairly strong rally yesterday, but it’s down again today. So far, it’s lows haven’t reached anywhere near yesterday’s lows, and it is stalled out at some support as well. That said, this ha been fairly choppy since early march, and I’m not really seeing a clear direction. I kind of want to look to short this, but I don’t love it. If I don’t see anymore shorts today, I’ll revisit this
EUR – S/N – This is weird. Early last week, this had a huge spike both up and down and has been weak since. That spike-down, though, has made this look like it was in a basing pattern, but within that basing pattern, this has made clearly lower lows and lower highs. I’m not crazy about this, but it has been slowly trending downward, so I’ll see if there are any opportunities out there to short this
Today’s Pairs
GBP/CHF – Long
GBP/CAD – Long
GBP/NZD – Long
EUR/JPY – Short
NZD/JPY – Short
CHF/JPY – Short
GBP – L – This hasn’t broken out to new highs from yesterday, but it is up, and it’s near those highs. I’ll look to play this on a breakout as it has a lot of room to run between it’s high and the next level of resistance
JPY – L/N – This has made some clearly higher highs and higher lows and broke above some resistance. That said, today’s candle is the only one that’s made a “significant” move to the upside, so I’m not sure how strong this up-trend is. I’ll look to see if there are any opportunities to take this long, but I won’t chase
AUD – N – After roughly 9 days of strength, this is on it’s second day of weakness. There is some support here, so it potentially could fall pretty far if it breaks this, but at the same time, this appears to be more of a bull pullback (plus, equities are slated to decrease, which should cause this to be bullish again). I’m going to wait on this until it either regains it’s strength or proves out a reversal to the downside
NZD – S/N – I feel really weird being comfortable shorting NZD but not AUD, but it looks like the better short to me. NZDs rally wasn’t as strong as AUDs and it didn’t really break to new highs as AUD somewhat did. This appears to simply be returning back to it’s bear move. I’ll look to short it, but I won’t chase
CHF – S/N – This kind of looks like EUR in that It’s kind of down-trending within a base, but there appears to be a lot more indecision in CHF than in EUR, so I’ll hold off on this for another day — Actually, I’ll look to short it, while there has been indecision, it’s still making clearly lower highs and lower lows. I’ll look to see if there’s anyplace I can short this