*Ask yourself where do you think each currency is going today based on the chart, don’t just look at the chart and hope for a continuation. Things can reverse, so ask “Where is this going to go today, and why?”*
Equities officially filled the gap — the large gap-down that happened before the huge drop back in February. They’ve made new recent highs, and appear to be strong. That said, Futures have made another recent high, but have pulled back and are down a bit on the day. Once again, I’m mostly going to take the baskets at face value.
USD – N – This was down yesterday, but ended up rallying throughout the day and taking back about half of what it lost. Today, it’s down slightly, but hasn’t moved much, and the candle is fully within yesterday’s. There appears to be a lot of indecision here, and it’s stalled out at that support level, so I’ll hold off for today
CAD – N – This rallied for 4 days in a row, but stalled out right at the 20 MA. Today it’s down, but within yesterday’s candle, and has pulled off of the lows some. This is still in a down-trend, so this could be the return to that, or it could be a pullback signaling a continuation of the up-move. Either way, since neither is confirmed, I’ll hold off
EUR – N – This is down a bit on the day, and still within the range it’s been in since spiking last week. I’ll hold off here
GBP – N – This appears to be basing now after it’s rally last week. I could look to play this within the base (or the others, for that matter), but it’s in the middle of the base right now, so it could go either way throughout the day. I’ll hold off
JPY – N – This is basically sitting at the open after being weak for the most part for the last 5 trading days. Even if this pushes through yesterday’s lows, there’s not at ton of room for this to run, so I think I’ll hold off for now
AUD – N – After spiking out of it’s new base, this pulled back to the middle of that base yesterday. Today, price is sitting at the open and the candle is fully within yesterday’s. Looks like It’ll be another stalled day here as well, so I’ll hold off
NZD – N – This is up a little right now, but has made a new recent low on the day. That low is still at/slightly above a pretty major support level, so even if it gets back down there, I don’t think I’m ready to short this, and I’m definitely not ready to take this long at this juncture, so I’ll hold off here
CHF – N – Basing again, looks like it made similar moves to GBP and EUR, and after those up-moves, it’s just basing again. I’ll hold off for this morning.