Equities are holding pretty strong after yesterday’s FOMC tea leaf interpretation panic stop run. I don’t assume that many of you are still holding any long positions but if you are then I suggest you simply continue to trail and let things run their course. On the setup side I’m seeing very little of interest today. The two exceptions:
GBP/CAD is a long here – my stop has been placed below that spike low on the hourly. I very much like the configuration on the daily panel as I’m seeing plenty of support below.
EUR/AUD – also a long here with a stop a respectable distance away, below 1.53. I’m not certain if we’ll see another retest of the 100-hour SMA. It’s rising so that works a bit in our favor.
Otherwise I have a few issues to deal with today. Please keep up the productive discourse -I’ll chime in when I can.
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