Equities are up a small amount premarket. They could be basing or they could — equities are open now and they looks to be not moving much at all. I’ll take the baskets at face value.
USD – S/N – This has been pushing down so far this morning and looks like it’s getting close to some support. Maybe there’s some opportunity if it can break that level
CAD – S/N – This is somewhat low basing and is pushing closer to the support level. There could be a couple places this stalls at below that level, but I’ll still take a look
EUR – S/N – This may have already made the breakout, but we’ll see. It’s pushing down, within it’s range, and based on the hourly chart. There appears to be a good amount of room for this to run below this support area, so I’ll take a look at this to the downside
GBP – L/N – This broke out of a pretty strong resistance area and stalled/pulled back at another one. If this can push back up and through the day’s highs, this could run a bit
JPY – L/N – This has been steadily pushing up for 7 trading days and is pushing out of a resistance area already this morning. I may have missed the move up, but there could be enough room so I’ll take a look
Today’s Pairs
GBP/USD – Long
USD/JPY – Short
GBP/CAD – Long
CAD/JPY – Short
EUR/GBP – Short
EUR/JPY – Short
NZD/USD – Long
NZD/CAD – Long
EUR/NZD – Short
AUD – N – This is basing, but doesn’t look like it has much conviction in either direction. I’ll hold off here
NZD – N – This is high basing on the daily and hourly charts — I could play a breakout on the hourly chart, but it could stall out at the high of the base on the daily chart, so I don’t like that. I’m entertaining the idea of taking a trade on the daily chart here and seeing how that plays out. I think that’s what I’ll look at
CHF – N – This looks like it might be low basing/ready to push down, but it’s still sitting above a pretty major support level, so I’ll hold off