Equities have gapped up again, and again have fallen since opening. I’ll take the baskets at face value this morning — also I don’t plan on trading, really so we’ll see how today plays out. If something looks really good I’ll pull the trigger, but otherwise, I think I’m OK sitting out until June.
USD – S/N – This looks bearish for the most part, but there is a level of support near current price that this has had trouble breaking. The level is actually just below, and I’d ideally use yesterday’s low as the entry point, but today’s candle is fully within yesterday’s, so it doesn’t look like that opportunity is there right now. I’ll take a glance at a couple USD charts to see if it looks like that opportunity is close
CAD – N – After a nice spike yesterday, this has reversed and is back to yesterday’s open — which is a pretty strong support level. I don’t think price will push too much lower than this, and it’s definitely not going up, so I’ll hold off here
Today’s Pairs
EUR/USD – Long
EUR/GBP – Long
EUR/JPY – Long
EUR – L/N – This is up for it’s second day in a row, but it’s still within a range and fairly close to the top of that range/sitting at a pretty strong resistance level. Maybe there’s room between here and the top of the range on an individual chart to make a few pips. I’ll take a look just in case
GBP – S/N – This kind of pushed out of it’s base to a new low yesterday, but has since rallied and is up a bit and back within the range. That said, price is still at the low end of the range and the bottom of that area is kind of acting as resistance to today’s candle. It’s not out of the question for this to reverse and head back down later today, especially since It’s broken that support level once already. I’ll take a look
JPY – S/N – This made a new swing low yesterday, but close near it’s open. It’s down again today, but hasn’t quite reached lows as low as yesterday. If this weakness continues, it could push further down, and there’s not a ton of support at the level it’s at, so I’ll take a look at shorting this
AUD – N – This is beginning to high-base again. It made a new swing high yesterday, but closed lower, and is up today, but fully within yesterday’s candle. I’ll hold off on AUD this morning and maybe revisit this afternoon
NZD – N – This spiked on Tuesday, made a new swing high yesterday (though it closed just below the open) and is up again today. It has some room between current price and yesterday’s highs, but there appears to be some strength here. I’ll take a look at taking this long — and I’m looking at this and not AUD because I’ve been burned by AUD too many times — Actually, if I’m going to revisit AUD this afternoon, that’s probably the smarter play here. I won’t look at individual charts, but I’ll keep an eye on this
CHF – N – Is somewhat basing again, still within the range it’s been in since the end of April and is sitting on some pretty strong support AND yesterday’s lows are a good amount away from current price. I’ll hold off on this