Long weekend + time change = me being sluggish. It’s a late start this morning, markets have been open for a half hour, so I’m just going to take the baskets at face value
Update After Analysis: Something happened that caused everything to spike in one direction or the other, but then pullback to relatively normal levels. If this is reflected in the individual charts, I’m not sure if there will actually be any setups, so I’ll look to figure out what happened that caused that
USD – Up
CAD – Down
EUR – Up
GBP – Up
JPY – Up
AUD – Down
NZD – Down
CHF – Up
USD [S/N] – This spiked at some point this morning, but has since returned back to the downside. It’s showing a lot of signs of weakness, but it’s pulled back quite a bit from today’s lows and is sitting at some support. I still like this to the downside, but the support, coupled with the long wicks, gives me a little bit of pause. I’ll still see what individual charts look like
CAD [S/N] – This gapped down and is showing strong signs of weakness. That said, it’s pulled back quite a bit from today’s lows and is sitting at some support. This looks very weak, though, so I’ll look for opportunities to short this, but I’ll do my best not to force anything
EUR [L/N] – Holy crap, what happened last night/over the weekend? This had a huge spike up, too, but is sitting near it’s open price. I’m still bullish on this, though, as it’s above the high base it formed last week, and I don’t see much significant resistance in the past at the level it’s currently at. I’d be comfortable taking this long, provided a nice chart setup and R:R is there
Today’s Pairs
EUR/USD – Long
EUR/CAD – Long
USD/JPY – Short
CAD/JPY – Short
USD/CHF – Short
CAD/CHF – Short
GBP [N] – This appears to have gapped up, spiked as the rest of the currencies seemingly did, then pulled all the way back and is down on the day, now. This is coming off of a bit of a rally that occurred all of last week, too, and it’s still technically making higher highs and higher lows. I don’t want to take this long right here, and I don’t want to short it since it’s still technically moving upward, so I’m going to leave this alone
JPY [L] – This had a huge spike as well, but this one seems to be holding on to it’s gains a lot better than the rest of the currencies. Price is currently at a level that it hasn’t been at since 2012, and while that was 8 years ago, there is some resistance there. Still, with the strength it’s shown, I’d be comfortable taking this long
AUD [N] – This spiked as did the rest of the currencies, but this is almost right at it’s opening price on the day. AUD has also burned me in the past, so I’m just going to leave it alone for today and see how this shakes out
NZD [N] – This spiked down, too, but is now up a decent amount on the day and looks to be continuing the low-base pattern it’s been in since the beginning of the month (minus the large spike down that happened today). I’m overall bearish here, and since it’s up right now, I don’t want to take it short, so I’m going to leave it alone
CHF [L/N] – Similar to EUR/JPY etc. this spiked up, has pulled back closer to it’s opening price, but is still up on the day. It’s showing signs of strength as well, so I’d be comfortable taking this long