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.
Quite a bit of movement on the FX (and commodities) side but I found three little piggies worth looking at. Here’s the AUD/JPY still making up its mind – we are long above the 100-hour and short below the 25-hour. In between it’s no-man’s land for now.
CAD/JPY busted across both short term SMAs. I am long right now but will consider a short if we drop below the 25-hour again. On the long side the 100-day should act as support in the coming hours (as it’s going to move sideways for a while).
USD/CAD already below its 25-hour – short here with a stop above the hourly NLSL (which was also breached). And if we see a reversal I’d be long above the 25-hour.
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This entry was posted on Thursday, December 20th, 2012 at 9:05 am. Both comments and pings are currently closed.