Don’t have much to say pre-analysis. I’m late again, but the alarm hasn’t been going off until 8:15, so that makes sense, but that means the market is already open, so I don’t have to assume what it’s going to do. Equities opened lower but have since rebounded and are up a little right now. I’ll take the baskets at face value
Update after analysis: As I mentioned under AUD/NZD/CHF, I’m going to hold off on trading this morning and see what happens later today, since everything has moved in the opposite direction this morning. One other thing I’m going to do, just to glance and see if there are any opportunities, is see which currencies look like they’re most primed to head back in the trending direction and see if there are any opportunities there. Otherwise, I’ll have to come up with an afternoon trading plan
USD [N] – this had a huge up-move sometime this morning (before I got to the charts), but is down a bit right now. If I had to venture a guess, people aren’t as risk-off right now as equities are showing some signs of strength right now. This has been really strong over the last couple of weeks, though, so I’m not going to short it — at least not at this point; and since it’s down, I don’t want to take it long. We’ll see what it does in the coming days
CAD [N] – The last 3 candles have pretty large wicks on either side but small bodies. They’re making moves, but quick to pull back to the open. I don’t really like this to either side because of that (even though these moves are technically trending upward), so I’ll continue to wait for more firm confirmation of direction
EUR [N] – This has also been showing a lot strength over the last couple of weeks, had a large up move sometime this morning, and is down now. I’m going to leave this alone for today and see how it shakes out. As tomorrow’s Friday, might not be touching this (and USD) until Monday
GBP [N] – This is up today with fairly large wicks. Coming off the heels of a downtrend, I don’t want to take this long — and it doesn’t appear to be in a position to move bearish again at this time. I’ll leave this alone for this morning
JPY [N] – Has been trending up, large up move this morning and is down on the day. Going to leave this alone, too
AUD, NZD, CHF [N] – These have all made large moves in the opposite direction than they’d been trending over the last week plus. I’m going to leave everything alone this morning and revisit later today to see what happens, but I’m not trying to do any counter-trend trading