Equities pushed down pretty strong at the open, but as of right now have rallied a bit. I’m going to assume risk-off, but I’m sure the baskets will show that, too, so I’ll lean that way while taking the baskets at face value.
USD – L/N – This is up a ton this morning, and stalled out at the same levels it stalled at when it spiked a couple of weeks ago. Given that today’s drop in equities was larger than on the day equities spiked the first time, I’m inclined to think that there’s still some upside room here, so I’ll take a look at this long
CAD – N – This pushed down a good amount today, and pushed through a solid support level, but it has since rallied and is sitting at that support level. Looking at the 4h and hourly charts, price wasn’t able to close below those levels, so I don’t really trust this to the downside, so I’ll hold off here
EUR – N – This is down only slightly right now, but it had pushed down further this morning and then rallied pretty quickly. It’s sitting in the middle of a range, and doesn’t seem to have much conviction in either direction, so I’ll hold off here
GBP – L/N – This is up for the second day in a row, and today, it’s broken out of a couple of pretty major resistance areas. It’s since pulled back to a resistance area, but that might just be a good entry opportunity. I’ll take a look at this
JPY – N – This looks like it tried to spike this morning, but has given back maybe 75% of it’s gains. It’s still sitting on that support level that it hasn’t pushed through, but I don’t really want to look at this short if the sentiment is risk-off so I’ll hold off
Today’s Pairs
USD/CAD – Long
This definitely looks like it’s retesting on the 15 min. chart, though it’s not my favorite. I like this, but I think I might need to let something develop
GBP/CAD – Long
This looks like it has some strength behind it, but I’m not currently seeing a tradable pattern. Again, I’ll hold off and try to let things develop
AUD – N – This pushed down a good amount this morning, taking out some support, but quickly rallying back to within the range. I don’t love this right now to the short side (definitely not to the long) so I think I’ll hold off and just keep an eye on this to see if it heads back down — I don’t love the re-test here. Again, though, I’m only supposed to be gauging direction here…. I think I’ll just set an alert
NZD – N – This dropped quite a bit today and just took out yesterday’s lows. It has since rallied, though, and taken back about half of what it lost. Looking at the 4h chart, this took out one level of support, but stalled at another. I don’t love this to the downside right now, either, so I’ll set an alert here, too
CHF – N – This is up a good amount today, but there’s a lot of whiplash in it’s recent history and it’s still pretty far off of the resistance area. I’ll leave this alone