Equities are spiking this morning, but as of right now are coming up against some resistance. That said, looking at lower time frames, there doesn’t appear to be any sort of pullback forming. It does look a bit extended, but not too much, so I think I’m going to lean risk on this morning.
USD – L – This broke out of more resistance this morning, and is on a bit of a pullback. There might be a retest here, or maybe just a pullback, but despite equities being up, this is still pushing up, so I’ll take a look at this to the long side
CAD – L/N – This broke a pretty strong resistance level this morning, and then pulled back. I went away for a while, but now that I’m back, it looks like this is spiking back up to those highs. I’ll take a look at this to the upside if it can break those highs
EUR – N – This pushed down a good amount this morning, but has since rallied and took back nearly everything it lost. This appears to have a lot of indecision behind it, so I think I’ll hold off for now, but I’m still going to try to keep an eye on this
GBP – N – This has been trending up for the year so far, but price is down today a bit, despite pushing up this morning. Looking at the hourly chart, this is pretty far off of the highs, and almost looks like it’s ready to reverse. I’m not ready to trade it the opposite way, though, so I’ll hold off
JPY – N – This is up a bit today, but coming up against a pretty strong resistance level. Regardless, this has been pushing down since November, and is now basing again at the lows. Today’s strength isn’t enough to make me think about taking this long anytime soon, but it is enough that it takes away the short, so I’ll hold off here. I’ll maybe set an alert to let me know when/if this pushes back to the lows
Today’s Pairs
AUD/USD – Short
Retest
USD/CHF – Long
High-Base 15 min. chart
AUD/CAD – Short
Already pushed back down, don’t love the pattern here
CAD/CHF – Long
Had a decent pullback, but the pullback was too deep for comfort — especially because I couldn’t get in at the retest level
AUD – S/N – This has been slowly rolling over for the past week or so, and this morning price pushed through some support and then rallied/based. I’m not sure how much room this has, but it certainly looks weak, so I’ll take a look at this to the downside
NZD – N – This is up a bit on the day and has been pushing up for the last few months, but it’s pretty far off of the highs right now, so I’m not looking to take this long. On the other hand, this has been pushing down on the 4h and hourly charts, and is sitting on some support, but I don’t want to counter-trend trade. Doubly-so because equities are up today, which should pull this with it. When/if equities drop again, I’ll look to take this short
CHF – S/N – This broke a support level that held in November of last year, and also for most of January, but pretty quickly rallied back to within the longer-term range it’s been in. It’s basing now, still right around that low area, so I’ll take a look at this on individual charts, but only on the breakout of the lows