Equities are down again this morning, for the third day in a row. I thought things were going to reverse back to the upside yesterday, but that wasn’t the case and it’s not the case today either. That said, price has stalled at the support level it stalled at last Friday, and doesn’t look like it’s going to push through this level. I’ll take the baskets at face value this morning.
USD – N – This is up a bit on the day, but doesn’t look like it has a ton of conviction behind it. It’s pushed up mover, but failed to get close to it’s resistance area and pulled back to it’s open. If equities roll over officially and this pushes up out of this resistance area, it should make a great long, but I don’t see that happening today
CAD – L/N – This is a tough one. It pushed up strong this morning and took out a pretty strong resistance level, but is already stalling at the next resistance level (and that one isn’t that far below the next one). Looking at the hourly chart, this actually doesn’t look extended yet, though it’s moving, so I suppose I’ll glance at this long, but I won’t chase
EUR – N – This is down a bit on the day, but not a ton. It seems to be stalled right at a pretty strong support level, and hasn’t really been able to stay near the bottom of it. I’ll hold off here for now I think
GBP – L/N – This is up quite a bit on the day, and on the daily chart it looks like it could make for a good long today. On the hourly chart, though, it already looks a bit extended on the day. That said, it is currently pulling back some, so that might make a good entry point. I’ll take a look at this to the upside today
JPY – S/N – This is quite weak today, and looking at the hourly chart it’s currently stalled at some minor support. There’s not a ton of room for this to fall in the basket, but maybe there’s more on individual charts. I’ll definitely take a look
AUD – N – This is up a decent amount on the day, and has come up to some resistance that’s held since the beginning of the month. That said, it’s still a bit off of the highs of that resistance area and doesn’t look like it’s about to spike. I’ll maybe try to set an alert again here, otherwise, I’ll revisit tomorrow
Today’s Pairs
CAD/JPY – Long
Pushing up, but not in a way that’s tradable for me. I’ll hold off
CAD/CHF – Long
Same as above
GBP/JPY – Long
This is on a minor pullback at a pretty strong resistance area. Hopefully this either pulls back more, or stalls here for a little while giving me a good entry point. I won’t do anything rash here — I’ll give it a couple of hours to develop, but it looks like this could be a good play
GBP/CHF – Long
Similar to the above, except that this already broke the resistance area and is stalling above it. I’ll keep my eye on both and run the numbers when/if a tradable pattern arises
NZD – N – I could say almost the exact same thing I said about AUD about this. The primary difference being that this is farther off of the resistance area than AUD was. I’ll hold off here
CHF – S/N – This is pushing down this morning and has reached lows it hasn’t reached since December of 2019. It’s in that area where it makes me nervous because it’s been so long that it’s been at these levels, so I won’t chase, but I do want to see what this look like on individual charts