Monday Morning Briefing

I hope you all enjoyed a relaxing late summer weekend. Now it’s back to work as I’m seeing a few short term setups of interest on the FX and commodity front. These a very short term setups on my hourly chart, thus if you roll out of bed around noon they’ll be long gone. Let’s jump right in:

EUR/JPY – touched 25-hour SMA support and may attempt to breach that hourly NLBL. 102.9 is your uncle.

USD/CAD – now at its 100-hour SMA. It also just snug by its hourly NLBL – keep an eye out for a breach here.

AUD/JPY – at 25-hour SMA and has already tested its NLBL. So far resistance has been holding but I would be looking out for an SMA breach here.

EUR/CAD – already pushed above that NLBL – kind of, as we’ve been going sideways. Good long with a stop below that rising 25-hour SMA. If you use a trailing stop then I would occasionally slide it higher following that SMA.

ZN futures – at their 25-hour SMA and a NLBL – still good for another two hours.

ZB – wedged between a NLBL and a NLSL – plus there’s the SMA holding it down. IF it can breach higher it would probably be good until 146. If it breaches that NLSL then I think we head lower today.

Sugar – at its 25-hour SMA. Which has been holding in the past few days. This is a tricky one – technically I want to be short but it’s been doing the shake-out game lately by dropping slightly below and bouncing back. I think this is a good short as we are near the spot where it would turn around and there would be little lost. Obviously a push back above that SMA would be a long.

Have at it!

Cheers,