I’ve already made 3 trades this week, and they were all losers. That, coupled with the fact that it’s Friday, makes me not-so-excited about trading today. I’ll still look at the charts, and if there’s something that seems too good to pass up I’ll pull the trigger, but this is going to be an abridged analysis.
USD – L – This is still looking strong, but It’s not the most convincing. That said, the moves in the middle-end of March were probably abnormal, and these moves are probably back to the norm. I’ll look at this long, but I won’t rush anything
CAD – N – This has pushed to new highs again, but did stall out at some resistance. Plus the highs from a couple weeks ago are still quite higher and this has been moving strangely. Not something I want to try to tackle today
Today’s Pairs
EUR/USD – Short
NZD/USD – Short
EUR – S/N – This pushed through some support yesterday and again some today, but it’s currently sitting closer to it’s open. This does look weak, though, so I’ll look at an EUR chart again
GBP – N – Aha, here’s the culprit. I was in GBP/EUR and (of course) over the course of 2 hrs. it spiked and stopped me out. Looks like this dropped which caused that move. I’m not ready to short this at this point, so I’ll leave it alone
JPY – N – After some strength over 5 days, this has been down the last 2. I’m not ready to short this, so I’m just going to leave it alone
AUD – N – This looks like it could actually be swinging back to the downside, but I’m not super convinced. I’ll see what has happened with it when I check back in on Monday
NZD – S/N – This has been weak, it rallied over about a week, but is down again over the last few days. It’s in a bit of a base right now, so I think I’d be comfortable shorting this on a breakout
CHF – N – This looks like EUR still, but it’s up a little today. That’s not to say it won’t reverse and head back down today, but since it’s not showing signs of that right now, I’ll leave it alone