Tuesday 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 spoos have been slowly gyrating up overnight and are now a mere bagel throw away from the 25-hour SMA, which I think will be a crucial test. If the 25-hour battle is lost then odds support a slide through that 25-day SMA which thus far has been acting as support.

EUR/NZD – back at the 100-hour SMA which is still dropping. I’m currently short witha  stop above. Willing to flip if she manages to climb back above that SMA.
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Soybeans back at the 25-hour SMA. May be an attempt to produce a floor – I’m not interested in a short here was the NLSL is right below – waiting for a long breach.

Bonds – the ZN is holding at the 100-hour and there’s now a brand new NLSL. The 25-hour is rising fast and should become part of that stew in an hour or so – great spot to get positioned.

If the GBP/CHF comes back up one more time I’d love to be short at that diagonal. Or long on a breach of course.

GBP/CAD – waiting for a retest of that 100-hour – based on those previous candles you better be quick when it happens 😉

Cheers,