Thursday Morning Briefing
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 NQ is wedged between an hourly NLSL and its 25-hour SMA. I do like this setup but not as much as the one on the spoos right now:
This is pretty interesting – 25-hour SMA touch whilst stuck between two Net-Lines and below its 100-hour SMA. Quite a bit of resistance looming ahead and I would probably not try a long until that 100-hour has been crossed again. Short below that NLSL at 1580.5.
Below a few FX goodies for the subs:
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UPDATE 8:00am EDT: The ECB just cut its lending rates by 25 bps and EUR/USD…. jumps! Brave new QE world we live in now and another reason I never ever trade the news.
Interestingly the spot where buyers suddenly decided that a rate cut was positive for the EUR/USD was at the 100-hour SMA. In case you ever wondered why I use that one in the first place 😉
Cheers,
