Equities seem to be stalling out at that all-time high resistance level as yesterday’s candle had some up moves, but stayed within the previous days and closed near the open. That said, the correlations haven’t been holding up that well, so I’ll take the baskets at face value. I’ll probably also look to play currencies within a range rather than directional, depending on the charts
Lastly, there’s a news event in a couple of minutes, maybe if I’m quick enough with my analysis (or if I put my full analysis off a couple of minutes), hopefully I can trade around that.
USD – N – The news event is for USD, but this is fully basing and I don’t have any sentiment as far as which direction this might go on some news. I’ll watch just to see what happens, but I’m not going to trade around it because I don’t want to take USD in either direction right now
CAD – N – It was only a matter of time before CAD had a down day and it looks like today’s that day. I’m still overall bullish CAD, so I’ll look to take this long next week again when/if it returns to the upside. I made, like 3.2 pip total on this CAD run, hopefully I can catch more next week
Today’s Pairs
EUR/CHF – Short
NZD/CHF – Short
EUR – S/N – Today’s candle is fully within yesterday’s and is down a bit. This is in a nice range and right now, price is near the top of the range. It has already pushed down on the day a good amount and has since rallied back to the open, but if it can push back through the day’s lows, this might have a good amount of pips available to the bottom of it’s range. I’ll take a look
GBP – N – I’m worried about trying to play breakouts, especially on a Friday, so I’ll leave this alone for today. It’s up pretty significantly but right at the top of it’s range. If this breaks out of the range and makes a confirmation candle afterward, I’ll look to take this long, otherwise, I think I’m going to try to keep my eye on this as a short within this range in the coming days
JPY – N – Just as CAD fell today after the strong rally, this is rallying today after 3 down-days. I’m overall bearish JPY right now, so I don’t see a scenario where I like this long, and since it’s up a bit, it’s not in a position where I’m ready to short it. I’ll hold off for now
AUD – N – Still fully ranging and candle sizes are quite small. I’ll hold off here until more money starts to flow in
NZD – S – This pushed down again today, and currently doesn’t appear to be sitting on any strong support (at least not recent support), but it has rallied off of the day’s lows. Looking into the past, it looks like this stalled at some support levels from back in 2019 — in August and then again in October and November. I’ll take a look at individual charts (if I see anything I’m willing to take long) to see if there’s any opportunity there because there looks to be a good amount of room before the next support level if it breaks the 2019 range
CHF – L/N – This broke out of it’s range yesterday and made another new high today, but has since pulled back and is down on the day. I’m only looking at this long today because A) it has made higher highs even though it’s down and B) there’s nothing else I like as a Long play today. I’ll take a look at this vs my 2 shorts, but I won’t chase — probably won’t trade today. I’ll try to keep my eye on things, though, in case something starts to move