It’s already after 8:30 — I had a hard time getting myself out of bed this morning. No matter, I now don’t have to look at futures too much and can dive right into the baskets. I will say, though, that the S&P gapped higher and looks somewhat strong — could bode well for AUD and USD is already showing weakness.
USD – N – This is on another down-day but I’m not ready to short it quite yet based on the technicals. I’ll wait until I’m convinced that this down-move is sustained
CAD – N – Yesterday was another up-day but it made a lower high and a lower low than the previous day. Today’s whole candle is within yesterdays, but price is currently sitting at the open. I might like this to the upside if it can breakout, but it’s not showing signs of doing that (and I don’t like this to the downside) so I’m going to leave it alone for this morning
Today’s Pairs
EUR/AUD – Short
AUD/JPY – Long
AUD/CHF – Long
EUR – S/N – This is up a bit today, but has already made a lower low (and the high is still lower than yesterday’s highs). Since it’s up a bit right now, I’m hesitant to short this, but if there’s a pullback on an individual chart, and it’d be a good short if it reverses back to the downside, then I think I’d like to be in that trade, so I’m going to see if that situation is happening anywhere
GBP – N – This gapped down when it opened yesterday and while it did rally, it finished down about .3%. Today has pushed a bit higher and a bit lower, making a lower high and a lower low, but is currently sitting right at it’s open. I thought I might be able to talk myself into liking this to the downside, but it’s low did stop at some support (and is pretty far away from current price) so I don’t want to short this today. I’ll wait until this down-move is confirmed, or until the up-move is continued
JPY – S/N – Even through it’s up-days, I wasn’t super convinced on JPY to the upside. Yesterday and today, it’s dropped about 1% each day, so I think I’m comfortable shorting this, there is some support where this is kind of stalling out at, but we’ll see what that looks like on individual charts
AUD – L – This pushed to new highs, breaking out of support. It hasn’t pushed much higher than that, yet, too, so I like this to the upside, I just hope I didn’t miss too much
NZD – N – This didn’t break to new highs, and is kind of ranging. I think I’ll hold off on NZD for now
CHF – S/N – This is kind of like EUR, still, but hasn’t moved as much on the day, and is still a bit down. I’ll look at some CHF charts to see if there is any opportunity to short it, but I don’t love it