Thursday Morning Briefing
Welcome to our morning briefing. Here we are reviewing short term setups ahead of the NYSE opening bell. If you are a scalper or swing trader then these setups may be of interest to you. As usual keep in mind that these are short term setups although they could be used as early entries for more longer term positions.
The E-Mini testing a NLBL at 1507 – if it fails there’s the 25-hour looming below. In addition there’s plenty of context here waiting below, most significantly the 100-hour SMA.
AUD/JPY – seems to be in a congestion zone and I think the odds of all that providing support are pretty reasonable.
EUR/USD – all morning it was pushing sideways and as soon as I was writing this post it was falling lower. We may get a snap higher near the bell which could result in a last kiss goodbye – if that happens get positioned at the 100-hour.
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GBP/CHF looking much more interesting than GBP/USD this morning. It already scared the children and may just fall below that 100-hour. Worth a small position with a stop above 1.429.
Crude seems to frustrate the night crew and then get a move on later in the day. Keep an eye on anything that may indicate it’s ready to detach from that 100-hour it’s glued to.
This entry was posted on Thursday, February 7th, 2013 at 8:25 am. Both comments and pings are currently closed.