Equities continue to base, and they closed on the lows yesterday. Futures are down slightly right now, but on the 15 min. chart, it appears that the buyers are coming back. That’s futures, though, so we’ll see what actually happens, again, I could see a gap-up, but then dropping prices. I’ll lean toward risk-off, but mostly take the baskets at face value.
USD – L/N – This pulled back over the last 2 days, but this morning, it’s up a bit. The MA’s are crossing over and this definitely made a higher high and a higher low. It has pulled back off of the day’s highs a bit already. I won’t chase, but if this is reversing as I believe it is, there’s a good amount of upside potential
CAD – L – This stalled out at some support and pushed up a good amount this morning, but it’s now stuck at some resistance. I don’t love CAD, there’s been too many stops and reversals for me, so I think I’ll hold off. I’ll revisit this to the long side if I don’t see anything else I like, though
EUR – N – This pushed up out of it’s most recent range slightly yesterday, but has dropped this morning. It’s sitting on top of some resistance now. I’m not bearish EUR, so I’m not entertaining the idea of shorting this now. I may look to take this long at the end of the day or tomorrow as it made a higher high, currently kind of making a higher low and the MA’s are starting to slope upward (though the 20 hasn’t crossed the 50 quite yet)
GBP – N – This pushed higher and lower and is now sitting right at it’s open. I’ll continue to leave this alone for now
JPY – N – This still looks a lot like USD, but it’s pulled back a lot further off of the highs than USD did. I’ll try to keep my eye on this, though, to see if it starts to push back up
AUD – N – This is up for the third day in a row, and coming up on some pretty strong resistance. That said, This appears to be making a lower high before returning to the downside, as the body of this candle is quite small and the MA’s are starting to slope downward (and are close to crossing over). I’m bearish the markets so I’m bearish AUD, so I’ll look to short this when it returns to the downside
NZD – N – This is still basing, but it looks like it wants to push down. Over the last 4 days, this has pretty long upper-shadows but pretty short lower shadows. That said, it’s failed to really break support and push down, so there’s something holding it back. Regardless, I don’t love where it is right now, so I’ll leave it alone for this morning
CHF – N – This is still in it’s range and sitting on some support. The MA’s are moving sideways, so I’m going to leave this alone