I don’t know…. I’m going to just take the baskets at face value. I can’t try to mess with the correlations anymore, they only match up sometimes, so I feel like my technical analysis would take that into account anyway (if that makes sense)…. Maybe I don’t know what I’m doing. I’ve had some success, it’s early to tell either way. Let’s keep working, I think I know what I’m doing, we’ll continue to find out..
USD – N – This is down a bit today, but so far today’s candle is fully within yesterday’s. I’m still not super convinced about this to the downside, so I’ll hold off again
CAD – N – Yesterday, this pushed about .4% up and about .55% down, but closed right near the open. Today it’s down a bit, but isn’t even pushing through yesterday’s low. I don’t like what this has been doing recently, so I’m going to hold off on this, too
Today’s Pairs
GBP/EUR – Long
EUR/AUD – Short
EUR – S – Yesterday finished up a bit, but so far today, price is down. It hasn’t reached lows as low as yesterday (or even the day before, yet), so I’m not super strong on this to the downside, but I do think the weakness will continue.
GBP – L/N – This was strong, had a couple of days of weakness at the beginning of this week, but yesterday this finished up (a little bit) and today’s candle has a decent amount of strength. Price has already pulled back from it’s highs, so I’ll see if there’s any opportunity to trade this on individual charts
JPY – N – This has been moving pretty weirdly over the last couple of weeks. It had a lot of strength up to mid-March, but was really weak after that. There was a bit of strength that came back near the end of march lasting until the beginning of this month, but it’s been weak again since, but those last 2 described moves aren’t nearly as large as the previous. I’m not sure what this wants to do right now, so I’m going to hold off on trying to trade it. I may revisit this afternoon
AUD – L – I’m a little apprehensive as it’s AUD, but it’s up again today and seems to be stopped out at a bit of resistance. If it can push through that level, I think this is a great buy
NZD – N – This is up today, too, but was down (technically) yesterday, and it’s highs aren’t breaking out to new highs, they’re still within a range. I’ll wait until this shows some momentum behind it before I trade it
CHF – N – This is in a bit of a base, and while it looks a lot like EUR, I’m not as bearish, and it doesn’t look as convincing. I’ll hold off for today, maybe I’ll revisit this afternoon.