Equities have been dropping over the last couple of days, but they gapped down this morning and might be strong. USD, at a glance, looked like it was starting to push up, so maybe the correlations are returning. I’ll still wait for some confirmation on that, though, and mostly take the baskets at face value. Also, it’s pretty late already and I’m not the most clear-minded right now, so this might be an abridged day anyway.
USD – N – This is pushing up, but it’s coming right up to some pretty strong resistance. I’ll hold off for today
CAD – S/N – This is still in the range it’s been in for over a month now. It’s somewhat in the middle of the range, and there’s a lot of support/resistance in this area. The only thing I’d maybe entertain is shorting to the bottom of the range, but I’m not sure if that’s a risk I want to take. Maybe I’ll look at individual charts and make my decision from there
EUR – N – This has been mostly pushing down over the last 2 weeks or so, making lower highs and lows. It looks like it’s basing, and is up right now, and has already stalled out and dropped at some resistance, and there’s a couple levels of resistance this could continue to stall at. I’m going to leave this alone for today
GBP – S/N – This pushed down strong this morning, but has stalled out at some support from June. This certainly could continue to push down, but it does look like it’s moved a lot already today. I’ll take a look at individual charts and see if there’s any opportunity
JPY – L/N – This is tough. It’s up a lot on the day, plus equities look weak, so that should bode well for this. On the other hand, though, there’s a couple levels of resistance above current price (not counting the one that it’s currently stalled at), and it might be overextended. I’ll take a look at individual charts to see
AUD – N – This is down today after appearing to form a bit of a bear rally. It’s sitting right on top of some support, though, that was the top of that previous range, so I’m not going to entertain breakdowns into that range today, so I’ll leave this alone
NZD – N – This is tough as well because price has looked weak for the last 4 trading days, but that’s after being incredibly, unpredictably strong for the 6 trading days before this. This looks like it could drop another .25% and still be in the uptrend, but it’s also near a good amount of support at it’s current price. I think I’m going to hold off and play it safe here
CHF – N – This is up slightly today, but it’s up against some pretty strong resistance. I’m going to leave this one alone for today