Wednesday Morning Briefing

I’m thrilled to see ole’ bucky scraping 80 again this morning. Perhaps – and just perhaps – the LT support lines I have shown this weekend may actually live up to their name? I can tell you that I am personally feeling the pinch over here in Spain as my EUR/USD exchange rate has been severely manhandled in the past two months. Anyway, a few short term charts of note this morning:

Cable touching two-pronged support – we have the lower 100-hour BB and a NLBL which is good for two more hours or so. Now when I say ‘support’ I’m referring to the fact that it ought to be holding BUT if it doesn’t we may slide quite a bit lower as anything correlating with the USD is in a crappy mood this morning.

EUR/JPY also continuing its downside trajectory – personally I would be happy to welcome it at the gates of Hades. Anyway, NLSL breach and that means I’m short with a stop above 79.03.
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NZD/USD – another NLSL touch and it’s looking weak, so I’m waiting for a breach.

USD/CAD – I’m showing you both panels as we just hopped over a fence there. I caught this one a bit late so I am waiting for an SMA retest – hopefully today or tomorrow.

Here’s sugar to sweeten your morning routine – already dropped through the NLSL. Again, given the evil perfectionist I aspire to be I am waiting for a breach of the SMA. It’s fair to take positions here with a stop above the NLSL.

Last but not least – crude! You all know what this one is about. Come to daddy!! 🙂

This may turn into a fun day – stay frosty, my friends!

Cheers,