Equity futures are suggesting a fairly significant jump. Let’s see how that affects currencies– I’m mostly going to take the baskets at face value, but I’ll keep a “Risk-on” sentiment in mind.
USD – N – This was strong for 5 days in a row, but is down a decent amount today. I’d like this to the downside if equities were in fact strong, but I’d also like to see that play out in the chart. I’m gong to leave this alone for now
CAD – N – This has been whipsawing since mid-to-early march. Today, while it’s pushed higher and lower on the day, it’s sitting near it’s open. I don’t really love this to either side right now, so I’ll leave this alone until it shows signs of really trending in one direction or the other
Today’s Pairs
EUR/AUD – Short
EUR/NZD – Short
AUD/CHF – Long
NZD/CHF – Long
EUR – S – This had a bit of a rally on Friday, but looks to be continuing it’s weakness. It’s not the fastest moving, but it does look weak, and I’m comfortable shorting this
GBP – N – After 9 days of strength, this pulled back on Friday; and while it gapped down today, it’s up a little. That said, it has pushed a lot higher already than the price it’s sitting at, so I don’t love this to the upside right now. Maybe this afternoon
JPY – N – This dropped a bit today after a decent amount of strength at the end of March. This definitely doesn’t look like it’s about to head up, but I’m not convinced of the strength of this down-move either, so I’ll leave this alone for now
AUD – L – This showed a lot of strength between the middle of March and the first of April, but the last 4 trading days have been on a pullback. It’s on another rally today, and has already pushed through some resistance. I think I’m comfortable taking this long today
NZD – L – This is following AUD a bit, but it’s pullback over the last couple of days weren’t as far and today’s strength looks more convincing. I’ll see if there are any opportunities here
CHF – S – There’s nothing I can say here that I haven’t already said about EUR