Equities are rising again premarket and look quite strong. It looks like it’s going to be another risk-on day — though things might be a bit slower due to elections. I’ll still have the risk-on bias and see how things are moving.
USD – S/N – This is up slightly on the day because it’s currently rallying, but it spiked last night and has been pushing down all morning. It’s rallying pretty far here, but that’s not to say what it looks like on individual charts. I’ll take a look at this to the downside today
CAD – L/N – CAD was strong over the last few days, dropped for most of yesterday, but has been strong overnight to this morning. IT had a mini base and then pushed up out of it, but doesn’t look extended (on the hourly chart). I actually think I wouldn’t mind taking a look at CAD today based on that move
EUR – L/N – I looked at taking EUR long yesterday, as I thought it hit it’s bottom and made a trend changing move, but it ended up pushing back down a bit lower. Today, though, it again looks like it’s made a trend changing move, but this one looks more substantial. I’ll take a look at EUR to the upside today, but I don’t actually think today’s the day it’ll break above the new high and push up, that said, if today is the day, I don’t want to miss out. I’ll take a look here
GBP – N – This is still producing candles with huge wicks on the daily chart, and I can see a lot of whiplash on the hourly chart. It’s down strong today, and sitting on some support, but this large candle looks like a lot of previous ones that are followed by opposite-direction large candles. It’d be a pretty major risk, but I could look at this to the upside here, but that’s not in my rules so I’m not going to
JPY – N – This pushed down last night, but has been rallying all morning. On the hourly chart, it’s above it’s 20MA and looks like there are still buyers in play. I don’t want to take this to the upside in a risk-on day, so I’ll hold off. If equities start to drop, I’ll revisit this
AUD – L/N – On the daily chart, this has huge upper and lower shadows, but a tiny body. On the hourly chart, this spiked up, stalled at a resistance level, and pulled back pretty strong. It’s pushed back up since, but have only been able to take back about half of it’s previous gains. This is tough because it looks a lot like USD’s inverse, and I’m planning on looking at that short, so why wouldn’t I look at this long? I suppose I will
Today’s Pairs
USD/CAD – Short
This has been in a 300 pip range for about 1.5 months now, and price is sitting at the low of that range. It’s rallied off of those lows quite a bit, but if it can push through them this could be a good trade. It would just have to do so after forming something tradable back at the bottom of the range. I’ll keep an eye on it, but I don’t love it right now.
EUR/USD – Long
This looks like It’s been wild over the last 24ish hours. It’s in a bit of a bull pullback, but it’s doing so below the highs it reached when it spiked yesterday. I think I’ll hold off here, too
AUD/USD – Long
This looks almost exactly the same as above
NZD – N – This has pushed down pretty strong this morning, and stalled at some support, it’s somewhat basing/somewhat bear rallying right now, but either way, I don’t like this to either direction, so I’ll hold off
CHF – N – This looks decent to the upside (as in, similar to USD), but it doesn’t look like there’s much room for this to go if it does break out. I’ll hold off here this morning, too.