Equity picture looks basically the same as yesterday. I’ll take the baskets at face value (with maybe a slight risk-on sentiment) and look to play ranges instead of breakouts.
USD – S/N – This is down a good amount today and once again stalled at that support area that was resistance prior to the “reversal” move. A few days ago, price pushed further down than it did today, so there appears to be too much room between current price and the entry point. That said, I’m supposed to use this to gauge direction since things look a bit different on individual charts, so I’ll check on this to the short side, but I’ll be wary of that next support level
CAD – N – This hasn’t moved much on the day, and looking at the 4h chart, it looks like it’s been mostly weak. It’s basing there, though, and doesn’t look like it has a ton of conviction to push further down, so I’ll hold off here
EUR – S/N – This is down slightly on the day, and looking at the daily chart, there appears to be a lot of indecision. Looking at the 4h chart, though, and it looks like it’s been basing for most of the morning and has recently just pushed through some support. I’ll take a look at this to the downside on individual charts
GBP – L/N – This is up a bit on the day, and looking at the 4h chart, it looks like it’s spiking and taking out some resistance levels. I’ll definitely take a look at this to the upside this morning
JPY – N – This pushed down this morning as well, and stalled at some support — similar to USD. It’s not down as much as USD, though, and has rallied a bit already off of that support level, so I’ll hold off here
AUD – L/N – This is up quite a bit today, and appears to be taking out some resistance. This could be a great long play just to the recent high levels. I’ll take a look at this to the upside
NZD – N – This is up a lot today and has already taken out some resistance levels on the daily chart. Looking at the 4h chart, too, it looks a bit extended. I’ll hold off here and maybe revisit if I don’t like some of my other longs on the day
Today’s Pairs
GBP/USD – Long
This has pushed up a ton, and looks very extended to me. It’s up against some resistance now, so if it stalls there for a while, maybe I’ll look to enter, but not now
AUD/USD – Long
Similar to the above. Looks like AUDs basket, but has already broken the resistance area and pushed up. I’ll hold off
EUR/GBP – Short
This might be beginning to stall on the hourly chart. If it does here for a while (or rally’s a bit) I’ll look to enter. If it just starts pushing down again, though, it hasn’t made a tradable pattern so I’ll leave it alone
EUR/AUD – Short
Similar to the above
GBP/CHF – Long
See GBP/USD and AUD/USD
AUD/CHF – Long
See GBP/USD and AUD/USD
CHF – S/N – This pushed down a good amount this morning and is making a slight bull move at some support. If this can push back to/through the lows, it could make for a good short.