Equities closed up 1.24% yesterday and futures are looking strong. I’m going to assume a risk on day…. If I haven’t missed all of the moves.
USD – S/N – This pushed down strong today and is stalling out at some support that was previous resistance. It does look a bit extended on the hourly chart, but I’ll still take a look at individual charts here
CAD – L/N – This has been steadily pushing up for the last few days, and has pushed up through some resistance levels this morning. It’s pulled back pretty far off of the highs, but it doesn’t look extended on the hourly chart, or that this pullback is that deep. I’ll take a look at individual charts
EUR – L/N – This did break below some support, but didn’t close below that level, and stalled at another support/prior resistance level. On the hourly chart, this looks like it’s making a reversal move, as it’s made a recent higher high and higher low. I’m not sure if today’s the day it’ll push up, but I’ll take a look at individual charts
GBP – N – I still don’t like this with a lot of whiplash and indecision, I’ll hold off
JPY – S/N – This dropped quite a bit already this morning, too, and is sitting on some support. On the hourly chart, it’s starting to base, so there might be some opportunity here. I’ll take a look
AUD – N – I don’t know why I’m fine with looking at USD and JPY short, but I don’t want to look at AUD long. Maybe because I don’t want to look at those pairs again? It looks extended on the hourly chart, but I have to say, no more extended than the other two. I have a couple other longs I want to glance at. Maybe I’ll revisit this
NZD – N – This looks like it wants to push up, and has been up-trending for the last couple of days, but it’s also had a lot of wild swings, and I see a lot of indecision. I think I’m going to hold off here
Today’s Pairs
USD/CAD – Short
This dropped strong, had a small bounce and is pushing down now. I don’t see any entry points, so I’ll hold off here
EUR/USD – Long
This looks ok. It looks like it’s already pushing up, but it did spike up a couple hours ago, and hasn’t broken that high yet. One could make the argument that this is basing. This isn’t my favorite pair right now, but I’ll keep my eye on it to see how it develops
CAD/JPY – Long
Similar to USD, this is pushing up as I’m typing this, though this did base for a bit then broke out. It’s almost 10 pips away from my entry, though, and I see others I kind of like, so I’ll leave this alone
EUR/JPY – Long
This is pushing up, and is currently in a bit of a base. At a glance, though, I’m only looking at a 1R:R, so that’s giving me pause. I’ll maybe revisit this, but hold off for right now
CAD/CHF – Long
This is up near a fairly strong resistance area, and looks ready to break out. That said, the next resistance area doesn’t look that far away. I’ll have to run the numbers, but there might not be opportunity here, either
EUR/CHF – Long
This honestly looks the best from a pattern perspective, and it also might offer the best R:R — though it’ll still probably be under 1.5… I’ll just keep my eye on all of these, run the numbers and maybe actually pull the trigger if something starts to move…….
CHF – S/N – This looks like it’s pushing down today, and it doesn’t look extended at all on the hourly chart. It has rallied off of the days lows a bit, but is now basing. I’ll take a look at this to the short side