Equities right now are giving me somewhat mixed signals, but maybe look a little strong? I’ll take the baskets at face value and maybe keep a risk-on sentiment in the back of my mind.
USD – L/N – This is in a bit of a low base where it is, but has been slowly pushing up over the last couple of days. It’s up slightly again today, and has stalled out at some support. I’ll take a look at this to the long side if it can break above this support level
CAD – N – This has essentially been ranging since mid-August, with a couple of spikes outside of that range. Today, it’s somewhat in the middle of the range and pushing down. There’s a bit of a base on the 4H chart, but it doesn’t look like it has that much room to drop. I think I’ll hold off here
EUR – S/N – This dropped a decent amount today, pushed through some support and is sitting on a support level that was prior resistance. On the hourly chart, this is forming a bit of a low base. I don’t have a ton of faith in EUR to drop much more, but it looks like it could, so I’ll take a look — Play the markets in front of you, right?
GBP – N – After it’s nice spike up yesterday, this has been basing at that resistance level. It’s been up to this level before and it failed back to the range — but it did already break above those highs, it’s just been pulling back since. I don’t really have a strong opinion on either direction here, I could really see myself taking this in either direction. I’ll set alerts on either side to see what happens
JPY – N – This is in a low base and doesn’t look like it has much conviction in either direction. I’ll hold off here for now
AUD – N – The last 3 days in a row, this has pushed up out of a pretty strong resistance level, but pretty quickly fell back to within that range. This, again, doesn’t look like it has a ton of conviction behind it, so I’ll hold off
Today’s Pairs
EUR/USD – Short
This is pushing down now, and is somewhat showing a base. It’s more pronounced on the 15 min. chart. I’ll run the numbers here, I think I like it
EUR/NZD – Short
This is down, too, but looks a bit slow moving. I’ll wait
NZD/CHF – Long
This still looks extended which makes me nervous, but that said, it’s forming a decent bull pullback on the hourly chart. I think I’ll still wait, but something to keep an eye one
USD/CHF – Long
I’m in this, and up, in my practice account, and all signs look like this could continue to push up. There’s a bull pullback on the hourly chart, too, so I’ll run the numbers. It’s not my favorite, but if the numbers are there, I’ll pull the trigger
NZD – L/N – This spiked strong this morning, and unfortunately looks pretty extended. That said, it is basing at the top of the move, so this could offer and opportunity to get in now. I’ll take a look at individual charts, but I won’t chase
CHF – S/N – This is down a good amount this morning, but doesn’t look quite extended (unless you count yesterday’s down-move). It’s pulling back/stalling at the bottom of the move, but the support level here is from back in June and looks fairly minor. I’ll take a look at this to the short side, but again, will do my best not to chase anything