Equities opened higher this morning, but have been pushing down for the most part so far. Based on yesterday, though, it looks like the correlations might not be there anymore, so I’ll take the baskets at face value with a slight risk-off sentiment in the back of my mind.
USD – L/N – I looked at this long yesterday, but nothing came to fruition for me. Today, looking at the 4h chart, it’s up again, and has recently made a higher high and a higher low. It has yet to break yesterday’s highs, but if it can, it could be a good long play
CAD – L/N – This pushed up and out of it’s range this morning, but has since pulled back to within the range. If this were a sort of a re-test, I missed that, but I’ll take a look at this to the upside if it can break the highs of the day
EUR – N – On one hand, this pushed through some support and is in the process of bear-rallying. On the other hand, though, just below the lows of today are more — and less clear — levels of support. I don’t love this here, so I’ll hold off
GBP – N – This is up slightly on the day, but on the 4h charts looks like it’s reversing to the downside. Either way, it’s in a bit of a range, and is pretty far away from either “breakout” areas, so I’ll just hold off here
Today’s Pairs
NZD/USD
GBP/USD
NZD/CAD
GBP/CAD
JPY – N – After being pummeled the last 3 days in a row, this is up a bit on the day. It looks like it has a bit of strength behind it right now, but that probably won’t last. I’ll hold off for today, and look to short this (probably) next week
AUD – N – This got up to levels where I set an alert to look at this long. It reached those levels around 1am, though, and since then has been pushing down. This could be a bull pullback, as on the hourly chart it looks like buyers are starting to come back, but it’s still sitting pretty far off of the highs. It being Friday, I don’t have a ton of faith in this, so I’ll hold off
NZD – N – This is pushing down right now, and looks to be down a decent amount. That said, it’s sitting at some support (though this support level has been broken once) and the next level of support isn’t very far away. I’ll hold off here, I think — I might revisit if it’s the only good looking short of the day
CHF – N – This is on a decent up-move today, but is currently stalling at some resistance. I’ll hold off here for today