Wednesday 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 E-Mini is still treading water but has managed to hold that 25-hour SMA. There’s a NLSL right below now at 1491 which should be good until the open.
The YM (Dow futures) meanwhile is being wedged between its 100-hour and its 25-hour SMAs. One side will arise as victor as both are on a collision course. You can run but you can’t hide (my favorite motto – hehe).
EUR/CAD attempting to breach its 100-hour SMA – great inflection point as there are no other obstacles in sight.
[amprotect=nonmember] More charts and non-biased commentary below for anyone donning a secret decoder ring. If you are interested in becoming a Gold member then don’t waste time and sign up here. And if you are a Zero or Geronimo subscriber it includes access to all Gold posts, so you actually get double the bang for your buck.
The greenback seems to be losing a bit of momentum and I expect another test of that 100-hour SMA.
GBP/CHF – access denied at the 25-hour plus it’s fighting a double whammy NLBL combo.
GBP/CAD meanwhile showing signs of mojo – I’m long as long as that 25-hour holds.[/amprotect]