Equities gapped up yesterday, were strong for the most part throughout the day (though they didn’t move much, just up), but dropped near the end of the day. This still closed above that long-term resistance level from back in June, and looking at the hourly chart, they rallied during the last hour of the day.
Futures are down, but not much, they have pushed lower than yesterday, but are currently sitting near yesterday’s low/open. I’m going to assume a gap down with a rally, so I’m leaning towards a risk-on day again. I’ll somewhat do my analysis on both sides, but for the most part, I’m thinking risk-on.
USD – S – This pushed down yesterday, taking out more levels of support, and is currently sitting at support levels from February of 2019. I’m definitely going to look to short this again today
CAD – S/N – CADs movements haven’t excited me lately, but today it looks playable. After the up-move yesterday, it failed a little above the 20MA and closed lower. Today, this has pushed lower and through the support level it made last Wednesday, but has since rallied. If it can get back to the day’s lows, this might run. I’ll take a look at some individual charts
EUR – L/N – This broke to new highs since April on Monday, but ended up dropping and closing near it’s open (giving back .5% almost). Yesterday, price pushed lower, but rallied and closed near the open again. Today, price is pushing back up to those highs and looks strong. If this can break out of Wednesday’s highs, I like this to the upside
GBP – S/N – I like this to the downside, but I don’t want to look at every pair… I’ll still add it to my analysis and figure something out. This failed at the 50MA again yesterday, and today, it’s pushed down and made a new recent low since last Tuesday. It’s rallied quite a bit since then, but if it can take out the day’s lows again, this could be a good short
Today’s Pairs
AUD/USD – Long
NZD/USD – Long
AUD/JPY – Long
NZD/JPY – Long
EUR/USD – Long
AUD/CAD – Long
NZD/CAD – Long
GBP/AUD – Short
GBP/NZD – Short
EUR/CAD – Long
EUR/GBP – Long
JPY – S – This looks very weak, pushing down for the third day in a row. It’s currently sitting on a support level that’s been both support and resistance in the past. If it can take out these levels, it could drop pretty far. The only thing that might give me pause here is the fact that it’s at the day’s lows currently and might not offer a clear tradable pattern on individual charts, but there’s only one way to find out
AUD – L – This is up again today and continuing to look strong. It’s stalling out at some resistance from back in March of 2019, and has pulled back some off of the highs, but if it can push up again, I like this to the upside
NZD – L – This didn’t quite take out the highs yesterday, but sometime in the overnight session, this did. It’s now pulled back to the top of that range, so I really like this if it can breakout above the day’s highs
CHF – N – This didn’t push much lower yesterday, and actually closed closer to it’s open/the highs of the day. Today, it’s down a bit, but sitting near it’s open and fully within yesterday’s candle. I don’t love this, so I’ll hold off on CHF.