Equities are up today, but still sitting below the highs from last week. They appear to be strong on the day, but ranging overall. I’ll take the baskets at face value, maybe lean slightly risk on.
USD – N – This is down a good amount on the day, but still pretty far away from the lows. I’ve got an alert set if that happens, or if it reverses, so I’ll leave this alone until one of those trigger
CAD – L/N – This is up some today, but not a ton. It’s also still well within the range it’s been in for the last couple of weeks. I suppose an argument could be made that there’s room for this to run a bit above some resistance on the 4hr chart, though. I’ll take a look at this on some individual charts, but I won’t chase
Today’s Pairs
NZD/CAD – Short
GBP/NZD – Long
EUR – N – This pushed up for most of the morning, but had a large drop and is now sitting just above the open. It didn’t break the major support level with it’s drop, so I don’t see shorting it, and it also looks like it’s having trouble recovering so I’m not going to take this long. I’ll set an alert to let me know if this pushes down to the lows of that support level, but otherwise, I’ll hold off
GBP – L/N – This never “filled the gap” and it mostly based after coming back to that support level. This morning, it had a nice spike up, and is pulling back a little now. I’ll take a look at individual charts to see if this bull pullback is worth taking a shot at
JPY – N – This is up a good amount today, but still within the range/base. I’ll hold off
AUD – N – After a nice spike last week, this is pushing down a bit this week. This broke the base it formed on the 4hr chart to the downside but has since recovered a bit and is sitting just below that support level. I’ll look to take this short in my practice account with my new strategy, but otherwise, I’ll hold off here
NZD – S/N – This is down a good amount on the day, but A) it’s off of the lows a good amount right now and B) those lows were still above the support area I’d want this to break. I’ll hold off for now *Update*: It’s the only thing (especially looking at the hourly chart) that I see that looks short-able, so I’ll take a look at the couple of longs vs this. There is a decent low base forming on the hourly chart and might be far enough away from that support level that it can be my target
CHF – N – This looks like it could be poised to be shorted, but it makes me nervous. It did push through some support but quickly rallied, but even on the hourly chart these candles have fairly large wicks. There’s a lot of choppiness here, so I’ll hold off