Equities looked like they gapped up this morning, but have been pushing down since. Currently, they’re stalling a bit at Friday’s lows, and might fail to push through this level today. I’m going to take the baskets at face value this morning, with maybe a slight risk off lean.
USD – N – This made a nice spike this morning, after mostly basing for 4 trading days. Looking at the hourly chart, things are certainly looking like they’re pulling back now — so that begs the question: Is price reversing back to the range or is this a stall before another large up-move. It looks extended to me, so I’m not going to look at this in either direction this morning
CAD – N – This had a pretty strong up-move yesterday, but this morning has mostly been pushing down. It did break out of yesterday’s highs before reversing, though, so maybe it’s on a pullback. Looking down at the hourly chart, this almost looks like a bearish power reversal. Either way, I don’t love what I’m looking at, so I’ll hold of for today
EUR – N – This is still ranging and still is making candles with small bodies and large wicks. I don’t love it so I’ll hold off
GBP – L/N – This has been up for 3 days in a row, and has been trending up since the middle of January. I’ve taken a couple shots at GBP long, and today looks like another good day to do so. On the 4h chart this is basing, too, so that might be a good opportunity to enter
JPY – N – This pushed down strong yesterday and some this morning, but it’s since rallied and is now mostly basing. It looks like I missed a down move here, and it’s not only sitting off of the lows, it’s sitting off of the lows of this range that it’s now in. I don’t see much directionality today, so I’ll hold off
AUD – N – This has been mostly ranging for the last few hours. Earlier this morning, it did push up enough to break out and make a new high, but it quickly reversed. Looking at the daily chart, this has a bit of an upper and lower wick and almost no body. This doesn’t look like it has much conviction in either direction this morning, so I’ll hold off
NZD – N – This appeared to have made a bit of a double-top last week, it broke the support level shortly thereafter and mostly based around there until this morning. Earlier, this pushed up and broke out of that range, but it quickly pulled back to well within that area. It doesn’t look like a clean bull pullback or retest, so I’ll hold off
CHF – N – This appeared to have been trying to push up steadily over the last couple of days, but this morning, price saw a big drop back to within a range. It doesn’t look like it has much room or enough volatility to make any meaningful pushes, so I’ll hold off here