*Disclaimer: I’m not feeling the best today — my stomach hurts a bit, and I’m “recovering” from a long 3-day weekend. My brain’s in a bit of a funk, so let’s just remain aware of these things today while doing my analysis
Equities are down premarket, but it seems as though that’s largely on Apple. This probably won’t move currencies that much, so I’ll take the charts at face value
USD [L] – This had a couple of down days last week, but it looks like those were small pullbacks in the middle of this bull run. This is sitting at a level where there’s some resistance, but it’s not very strong resistance, so I think this can continue to push higher. Let’s see what I can pair against it
CAD [L/N] – This is continuing to push up, so I’m overall bullish here, but today there’s a lot of indecision and while it’s pushed up and down on the day, price is currently sitting near the open. I like this to the upside, but I’m cautious
EUR [S] – This has shown a lot of weakness since the beginning of the month and is currently in a low-base pattern. I definitely think this can push further down, so I’m going to look for an opportunity to short it
Today’s Pairs
EUR/USD – Short
EUR/CAD – Short
EUR/GBP – Short
NZD/USD – Short
NZD/CAD – Short
GBP/NZD – Long
GBP [L/N] – This is up again today and looks like it’s just breaking out of those levels that make up the range it’s been in for a long time. I’m cautious because this has falsely broken out a couple of times, but if it can break today’s high again, this has some room to run
JPY [N] – This made a move that could’ve been trend-changing back at the end of January — but that move could’ve just been a new swing-high in an overall larger downtrend. As of right now, price is up, so it looks like it could’ve been a trend changing move with a pullback, but there’s some pretty strong support and resistance at the level price is currently at. I think I’ll wait another day or so on this before I decide to pull the trigger in one way or the other
AUD [N] – This is down again today, but it’s already taken back about half of the losses it’s accrued today. This looks like it’s ranging and having a hard time figuring out which direction it wants to go after that huge drop at the middle/end of January, so I’m going to leave it alone until there’s more clear signs of a direction for this to go
NZD [S] – This is moving down again after that big spike last week. It’s up against support again, but if it can push through that level, I think it’ll drop pretty far
CHF [N] – This had a lot of gains already today, but is currently sitting near the open. This is definitely in a position where it’s hard for me to determine which direction it wants to go next — Yesterday’s candle is also up, but with the large pullback already on the day, and the levels of resistance that are here make me feel as though it doesn’t want to push higher, and I definitely don’t want to short after 2 up-days — so I’m going to sit out of this today