Equities are pushing up again this morning, and are not sitting just below all-time highs. Things look strong, so I’ll lean risk-on this morning.
USD – S/N – This pushed down this morning, but is in the middle of a fairly significant rally. That said, the rally seems to be failing at some resistance that was support before it broke down early this morning. It might be too deep to be considered a pullback/retest, but the only way to know for sure is to look at individual charts, so I’ll look at this to the short side
CAD – L/N – After a couple of down days, this looks like it’s regaining some strength. Similar to AUD and NZD yesterday, this based after a pullback and is now breaking out of that base. I may have missed the move here, but I’ll take a look at individual charts to find out
EUR – N – This is up a bit today, but it’s well within a base, and doesn’t look like it has much breakout potential in either direction. I’ll hold off here for today
GBP – L/N – This is another tough one. It’s up again this morning and is taking out a pretty strong resistance level, but not too far above this is another level where price has stalled at. Also, looking at an hourly chart and this looks a bit extended. I’ll take a look at individual charts to see how this looks
JPY – S/N – This is breaking pretty strong to the downside this morning and has reached lows it hasn’t reached since 2018. Also, on the 4h chart, it’s basing, maybe rallying a bit. This looks like a really good short today, so we’ll see what individual charts look like
AUD – L/N – This pushed up this morning and just touched the highs of the next resistance area after the one it broke out of yesterday. Since touching that high, though, price has pulled back. That said, it looks a lot like a re-test or a pullback, but it could also very well just be a move within this range. Actually, knowing AUD, it probably will stay within this range. It’s tough because it looks like it has breakout potential, and I don’t want to miss that, but I also don’t want to overwhelm myself. I’ll take a look at this to the upside, but I’ll be careful
NZD – N – This looked like it tried to push up this morning, but didn’t get near the top of the next resistance area and has since been dropping. It doesn’t look like it has much conviction in either direction, so I’ll hold off here
Today’s Pairs
USD/CAD – Short
This pushed down this morning, stalled at some support and rallied, and then pushed down back to that support level. Price is up a bit now off of that level, but there’s a good amount of room for this to fall if it does push through. I’ll figure a good stop/target here and run the numbers, though it’s not my favorite pattern right here
GBP/USD – Long
For one, This is sitting off of the highs/breakout level and pushing down and for two, I’m not sure if I can consider this an actual base. I’ll leave this alone for a couple of hours and see what develops, but I don’t like what I see right now
AUD/USD – Long
CAD/JPY – Long
This is in a nice base, but admittedly, the highs of this base are just below another high. I still like the base and the direction and I can run the numbers on a breakout of both areas to see what I like.
GBP/JPY – Long
This is completing a bull pullback on the 1h chart which is tough because I like the pattern but I usually want to get in on the way back up, not on a second breakout, regardless, though, that’s what it is, so I’ll run the numbers from there. This also appears to be basing on the 4h chart, which I like to see. We’ll see how things shake out when I run the numbers
AUD/JPY – Long
CHF – N – This is up a bit today, but has just been basing over the last 4 days. I’ll hold off until it shows signs of breaking this base in one direction or the other