The U.S. consumer confidence index came out to 98.6 disappointing from the 101.5 expectations. This caused the U.S. Dollar pairs to sell-off. After taking a loss on my initial loss on my non-USD base currency short positions, I have re-entered my positions hopefully they will hold up this time.
After a quick spike up, bids failed to sustain and met with the 0.7172~ resistance area. I currently expect this to hold up and have re-entered my short position a bit late at 0.7158.
Over on the USDCAD pair, the daily .1330~ level seems to be sustaining and I have entered a long after the U.S. Dollar sold off and recovered rapidly filling up the bids just below. This can be seen better over at the hourly time frame.
This probably isn’t the best moment to take this trade as volume is dying down overnight since the New York session is over. I’m looking for tomorrow’s new home sales release expecting meeting or beating expectation given the strong inflation rate of 1.5% in September.