Equities are pushing up a bit today but stalling at the all-time high levels. I’ll take the baskets at face value.
USD – N – After pushing down further and breaking more support, this is up a bit on the day. I would (again) like to see this push down through the day’s lows before I looked to short it, so I’m going to hold off here, at least for this morning
CAD – S/N – This dropped quite a bit today, taking out the lows of the range it’s been in, but it stalled at the next support level. I suppose I’ll take a look at this to the short side, but it looks like the risk size might be too large. We’ll see
Today’s Pair
GBP/CAD – Long
EUR – N – This is up a good amount today, but it’s taken back about half of it’s total gains on the day, and at it’s peak it didn’t break yesterday’s highs. There’s a lot of choppiness here, so I’ll hold off
GBP – L/N – This has remained strong over the last couple of days, and it’s pushed back to the top of the range it was in before the big drop at the end of last week. It’s somewhat pulling back off of the highs right now, but that could be a nice entry area. I’ll take a look at individual charts to see if there’s opportunity here
JPY – N – On the 4H chart it looks like it’s turning to the upside and there might be a cup and handle forming on the 1h chart, but on the daily chart it’s still in a range after a down-move and still looks weak. I think I’ll leave this alone until there’s more directionality to it
AUD – N – This is high basing on the daily chart, but isn’t close to the highs of the range yet. When/if that happens, I’ll look to take this long, but until then, I’ll hold off
NZD – N – This is pushing down this morning, but it’s failed to break the support level — in fact, it’s still sitting a good amount above it. On the hourly chart, this is starting to look extended already as well, so I’ll hold off here
CHF – N – I don’t have a ton to say about this other than there’s still a lot of choppiness, so I’ll hold off