U.S. equities sold off initially but rallied to close relatively flat for the day. Oil prices rallied and closed up again, pushing through $55 resistance while gold prices edged lower. The dollar continues to weaken and fell back to trend support. We will watch for the dollar to potentially bounce here or push about 1% lower before bouncing.
The EUR/USD continued to rally and we are watching to see how price behaves at the 38% Fibonacci level to decide if we are shorting this pair tomorrow or if we will see an opportunity a little higher at the 50% level.
The GBP/JPY rallied today and we are watching for price to rally and clear 178 to tighten our stop. We are content with price rallying for another day before we tighten our stops again. We moved our stop to break even earlier today.
The EUR/GBP has traded relatively flat for the past 3 days after we entered our trade. We will watch for one more day to see if we can get a lower close so we can tighten our stop again.
The CAD/JPY rallied today with oil prices strengthening the Canadian dollar. Price rallied enough to hit our target and we closed with a 192 pip gain.