U.S. equities attempted another push lower today but were able to finish the day up slightly. Crude oil prices found a base after breaking below 80 and testing 79.78. By the end of day, oil had rallied and closed up 4% of its lows. this caused the Canadian dollar and pound to strengthen.
The EUR/USD did drop and tested a move back below previos support of 1.28 but prices were able to close above this support level and we are still watching for a test of trend and horizontal resistance for our next short of this pair.
(see EUR/USD below)
The GBP/NZD fell to test our support level and we entered our trade long with two contract. We changed to two contracts yesterday when price stalled above our entry level. Price has now rallied and we have moved our stop into profitability and we are seeing price move in our direction.
(see GBP/NZD below)
The CAD/JPY fell to retest horizontal support. We wanted to set a buy limit at this level but we missed our opportunity and we will now wait for a new entry signal on this pair. We would not be surprised to see price drop and put in a higher low but we will watch and wait for a clear trade setup.
(see CAD/JPY below)