Equities gapped up then dropped strong yesterday. Today, futures are looking like they’re down slightly, but not a ton. I’ll lean risk-off today, though I wouldn’t be surprised if there wasn’t much volatility.
USD – L/N – This was down strong last week, but had a decent up-move yesterday. It’s been basing for the most part since then, but I’ll take a look at this to the upside
CAD – L – This had a huge spike yesterday, but fell in the afternoon, giving back about half of it’s gains. Since then, it’s been spiking, but looks like it might have some strength behind it. I don’t love it right now, but if it pushed up near some support, I might revisit this. I’ll set an alert, but hold off for now
EUR – N – This dropped quite a bit early this morning, but since it’s been taking back the losses. IT was ranging prior to that, so I don’t think it’ll push back up through the highs of that range, so I’ll hold off
Today’s Pairs
AUD/USD – Short
NZD/USD – Short
USD/CHF – Long
GBP – N – This spiked up again this morning, pushing up above the longer-term range for a second time. It stalled at that high that it stalled at the last time it spiked and has been pulling back since. I could definitely make the case that this is in a bull-pullback, but looking at it’s history, it’s not going to be able to really push up with much conviction. I’ll set an alert here, too, in case it does, though.
JPY – N – Since it’s huge drop yesterday morning, this has mostly been basing. It even pushed up above it’s 20 MA on the hourly chart, and is now sitting just below it. I’ll hold off here
AUD – S/N – This spiked up and is now mostly basing. On the hourly chart, though, this has pushed down and is sitting right on top of some support. If this can push through this level, it might be a good short. I’ll definitely take a look here
NZD – S/N – This had a huge spike yesterday, and has been pushing down a bit since. It’s sitting on some support now, but it’s a relatively minor area from yesterday’s spike. I don’t hate this to the downside, but I also see a lot of areas this could stall out at. I’ll take a look at this to the downside since it’s currently moving, but I won’t chase
CHF – N – This broke a decent base early this morning, but since has been rallying. It’s a pretty strong rally, so at a glance, the R:R isn’t going to be there, especially because I’m not sure how much further this could actually fall. That said, it looks like a decent candidate for my new strategy practice, so I’ll take a shot in my practice account, but I’ll hold off actually trading this for now