It’s Friday, so I probably won’t trade, but I’m still going to take a look at how things are moving this morning. Equities look like they’re starting to roll over a bit, but it’s not terribly convincing. I’ll lean slight risk-off (though it already looks like I want to take AUD long), but mostly take the baskets at face value.
USD – N – After pushing just through the low of the base it’s in, it rallied and is up a bit today. It looks like it’s just staying within this small range for right now, so I’ll hold off. I’ll set an alert to let me know if USD drops back to those levels, though
CAD – N – After the big spike yesterday morning, this dropped throughout the day. Today, it’s down a good amount, but is still above yesterday’s lows. This looks like it’s becoming rang-bound, so I’ll hold off here
EUR – N – Same thing today as previous days. I’ll hold off
GBP – S/N – Welp, I guess I should’ve paid attention more closely to this yesterday as it dropped another 200+ pips after I looked at this vs NZD… It definitely looks extended today and has already pulled pretty far off of the lows, so I’ll hold off here for today and revisit on Monday
JPY – N – Similar to USD, this rallied after breaking the support of the small base it was in. This rally is a lot stronger, though, so I’m even less interested right now
AUD – L/N – This broke up to new recent highs and has since pulled back a bit and is in a bit of a base/bull pullback. It’s a risk-off (seeming) day and it’s Friday so I don’t want to chase, but I’ll take a look at this to the upside just in case
Today’s Pairs
GBP/AUD – Short
It’s in a pretty clear bear rally on the 1h chart, but the risk would be 200 pips and I haven’t looked yet but I’m doubting there’s 400 pips available, so I think I’ll just hold off here
AUD/CHF – Long
This has steadily been pushing up and looks like it’s just about ready to break, but unfortunately I’m not seeing a great pattern to trade on the hourly chart I’ll keep an eye on it here, maybe it’ll base and give me a good entry/stop point
NZD – N – This broke up above some resistance this morning, but has since pulled back to it’s open. There’s not a ton of room above today highs, either, for this to run. So, I’ll hold off here for this morning
CHF – S/N – This is down a good amount on the day, which is the only reason I’m going to look at shorting it, but that being said, it’s down a lot already and stalled at some support. There appears to be a decent amount of room to the next support level, but I’d like for it to break this one meaningfully. I won’t chase, and if I do pull the trigger it’ll probably be a wide stop, but I’ll take a look at this to the short side