Equities are up pretty strong today, but at a glance, curiously so is USD. In that same vein, AUD and NZD are down a bit today, too. Clearly the correlations aren’t there right now, so I’ll take the baskets at face value.
USD – L/N – This is still on a strong downtrend, but had a nice spike today. Looking at the 4h chart, it looks like it got up to some resistance, that was also prior support, and pulled back from there. On one hand, this should be a risk-on day, so this shouldn’t be this strong at all, on the other hand, it already is this strong, and if it can push through some key levels, it might push higher. Trade the market in front of you, right? I’ll take a look at this to the up side
CAD – N – This is up a bit on the day, but still within the longer-term range it’s been in. It pushed higher than it is right now, but didn’t quite get up to the highs of the range. On the 4h chart, too, I’m not seeing anything that suggests a direction to me, so I’ll hold off
EUR – N – There’s a lot of “muck” here on both the daily and 4h charts. This is up a bit on the day but failed at some resistance and pulled back. Even if it were to push through that resistance level, though, there’s another one just outside of it. I’ll hold off here
GBP – N – This is up overall on the day, but is currently pushing down. Looking at the 1h and 4h charts, it appears to be retesting the base it broke out of overnight. Idk, this looks like it still has quite a bit of weakness behind it. Couple that with the fact that Maverick is short GBP right now, and this gives me pause. I’ll hold off
JPY – S/N – This is very weak right now, and just keeps pushing down. The fact that it’s moving, and not giving me entry signs gives me a bit of pause, but hopefully something will develop on individual charts
AUD – N – This is down on the day, but over the last couple of hours has been pushing up. It’s not retesting, and it’s still sitting pretty far off of the highs — which would be my entry area, so I’ll hold off. I may set an alert to let me know if this gets back up to those highs, though
NZD – N – See Above
CHF – S/N – This is pushing down and looks like it just broke some support. It’s since rallied a bit, but I’d like to see what this looks like on individual charts, this could offer a good short opportunity