Equities gapped down this morning, but are rallying a bit right now. The rally isn’t much, and it doesn’t look like it’ll be much, so I’ll just take the baskets at face value.
USD – L/N – This never pushed through that support level, and today it’s bouncing off of that level. This looks like it might be just doing a pullback in the middle of a bull run, so I’ll take a look at this to the upside. I won’t play the re-test — I’ll play the breakout since it’s coming up to some resistance
CAD – N – This is down again today, but stalled out at the top-end of a support area. Even if it does push down through the days lows, I’m not sure how much further it can fall. I’ll hold off
EUR – L/N – This is up a good amount today, and is right near a breakout area. It’s pulled back some off of that area right now, but that might just offer good entry/stop points. I’ll take a look at individual charts and see if there’s any opportunities
GBP – N – This is down today, and maybe forming a mini-base near some support, but just below that base is another support area. I don’t see this moving very far, especially not today, so I’ll hold off
JPY – N – This is still pretty range-bound and doesn’t have a lot of conviction in either direction. I’ll leave this alone again for today and see what it looks like next week
AUD – N – Looking at the daily chart, this is down on the day, but it came up to some support and bounced — all within a range it’s been in for a few weeks now. Looking at the hourly chart, though, and it looks like a pretty bear-rally is forming. It’s Friday, though, and it stalled at a pretty major level of support that I don’t expect to break today, so I’ll hold off
NZD – S/N – This is down a bit today after 2 up days in a row. Looking at the 4h chart, and it looks like a bit of a base, maybe an awkward double-top has formed. I’m going to take a look at individual charts to see if there’s opportunity to short this if it breaks this support level and heads to the next one
Today’s Pairs
NZD/USD – Short
I wanted to take this long yesterday, and it would’ve been perfect. I just got to the trade a little too late. Today, though, after reaching my target it formed a double-top and looks to be pushing down. It’s already pushed through the double-top’s support level and has since rallied. I’ll run the numbers here on a bear rally, too. I don’t think there’s anything there, but I won’t know for sure until I do the math
EUR/NZD – Long
This is somewhat basing on the hourly chart, but it doesn’t look great — especially because the current candle has pushed down just base the lows of the base. Even if this were to push back up and out of the highs, the next resistance level is pretty close. I’ll hold off
NZD/CHF – Short
This doesn’t look terrible. It’s stalling out a bit at some support, but it hasn’t formed the prettiest base. That said, if it does break this support level, this could fall a good amount. I’ll run the numbers and make a decision based on that
CHF – L/N – This is up quite a bit today, but it’s stalled out at some resistance and has pulled back off of that level. On the hourly chart it’s basing, so an argument could be made to take a look at this to the long side today, but there’s a lot of “muck” and places I could see price stalling out at, so I’ll take a look at individual charts, but I won’t chase