Equities were down again yesterday, but premarket, they’re up today. Things are seemingly different from “normal” right now, so I’m going to just take the basket charts at face value
I only found 1 currency today that I liked with a direction, so I don’t have any pairs to look at. I’ll revisit in a couple of hours to see how things have shaken out and maybe see if I can put something together — I’ll check again tonight as well
USD [N] – This has shown weakness since the beginning of the month, but is up a bit today I’m not ready to suggest that this is reversing back to the upside, so I’m going to leave it alone for today
CAD [N] – This has been weak since the beginning of the month, but is up some today. That said, it’s pulled back pretty far from today’s highs. Similarly to USD, I’m bearish here, but it’s not making bearish moves right now, so I’m going to leave it alone
EUR [L/N] – I’m cautiously bullish here. This had that big spike yesterday, and still finished strong, and while technically it’s down a little today, it’s sitting near the open (it’s pushed a both a little higher and a little lower on the day). If this regains it’s strength, it could be a good long play
GBP [N] – GBP is making me nervous right now — it’s still for the most part staying within the range it’s been in since the middle of last October. It rallied last week, and besides the big spike, stalled out at some resistance. Now, it’s down a bit today and stalled at some support. I could see this going in either direction today, so I’m just going to sit out of it
JPY [N] – This has been strong for most of 2020 so far, and really pushed higher on that spike yesterday. That said, it’s pulled back a lot already today, and is looking weak. I’m not ready to be bearish on this yet, though, so I’m just going to leave this alone for now
AUD [N] – I feel like I just want to take a break from trading AUD. Seemingly, every time I think it’s headed in one direction, it reverses to the other direction (usually just enough to stop me out, then continues the way I thought it would in the first place). This spiked down pretty big yesterday, but pulled back up to he previous lows. Today, it’s already pushed a little higher and a little lower and is sitting at the open. I could make the case for this in both directions, so I’m just going to leave it alone
NZD [N] – This is still in that low-base pattern on the daily chart, and isn’t breaking out to either direction. I’ll leave this alone for now
CHF [N] – I’ve been overall bullish on CHF for a while — it even spiked up yesterday, and is continuing to look strong as it has since the beginning of the year. That said, though, today, it’s down a little right now, so I’m not ready to take this long. I’ll leave this alone for now.