Equities are down a big again this morning, but are rallying off of the lows right now. They also stalled at some support before the rally. I’m going to mostly take the baskets at face value since it’s Friday, and there doesn’t appear to be much conviction in either direction.
USD – N – After pushing up nicely yesterday, this dropped pretty strong this morning. It failed at some support, and appears to be bouncing there, but not nearly as much as it dropped. Since it looks like equities are still pretty weak, I don’t want to short this, but it dropped so much I’m not ready to take it long, so I’ll hold off for today
CAD – L – This spiked a ton this morning, and is now stuck at some resistance, but it doesn’t look like it’s really slowing this down. I’ll take a look at this to the upside on individual charts to see if there’s any opportunity presented
EUR – N – A apart of me wants to look at this short. After a short rally, this dropped pretty strong this morning, and is now stuck at some support. There’s also a bit of a double-top formed on the 4h chart, though the second “top” isn’t as high as the first. On the other hand, though, overall daily this is up a bit, and while it’s stalled at some support, it’s still a ways above any entry point I’d pick. I think I’ll hold off for now and maybe revisit if I don’t find any better shorts
GBP – N – This has been on a nice bull move for the last 3 days, but hit some resistance and began dropping this morning. It’s down a bit today, but still within an uptrend, so I’m not really looking to short here. I’ll wait until the short is more confirmed, or until price rally’s back up to the highs before I look at this again
JPY – S – It’s hard not to look at this short with such a sharp drop. It’s down a ton this morning and took out multiple levels of support, and is now sitting on a support level from April of 2019. I’ll take a look at individual charts and hope that this isn’t extended yet
AUD – N – This looks like it’s slowly rolling over to the downside. This spiked down yesterday, but managed to rally and close up on the day, but it was still below the previous day’s highs and today’s candle is down a bit again. This has already been lower and rallied, too, so I’m seeing a lot of indecision here. I’ll hold off for now
NZD – L – This is spiking nicely right now, and looking at the 4h chart, doesn’t look too extended yet. It’s also up against a pretty major resistance area, and hasn’t pulled back too far off of that area. I’ll take a look at this to the upside today for sure
CHF – N – This is down a good amount today, but immediately looking at the 4h chart, it’s stalled at a pretty major support level and already looks extended. I’ll hold off here for now (even though, technically, it looks like NZD and CAD. I don’t trust this one as much on a Friday)