Equities ended up rallying yesterday and closed near the highs/all-time highs. Today, they’ve gapped down so far this morning and has been pushing down, but looking at it’s history, it might not stay down all day. I’m going to put this in the back of my mind for now and take the baskets at face value.
USD – L/N – This is breaking out this morning — breaking out of a base on both the daily and 4h charts. It doesn’t look extended either, so I’ll look for long opportunities here
CAD – N – This is still whipsawing a bit on the daily chart and is still ranging on the 4h chart. It’s on top of some support right now, but this one is a prior resistance area and the next area of support is pretty close. I don’t love this today, so I’ll hold off
EUR – N – This pushed back down after retesting yesterday, but it based and then pushed up again. Again, I’m seeing a good amount of whipsawing so this gives me pause. I’ll hold off for now
GBP – N – After breaking out to new recent highs yesterday, this quickly pulled back during the day and pulled back within that range. Today, it looked like it maybe wanted to push up, but didn’t hold on to the strength and pushed back down. This almost looks shortable to the bottom of the range, but overall this has been in an uptrend, and I’m not sure I want to short into that. I’ll maybe revisit if I don’t see any other shorts I like, but I think I’ll hold off for today
JPY – N – This is down a bit today, but not a ton, and it’s stalled at some support that was resistance before the huge up move it made last week. At this point, it’s still within the framework of a power reversal, so I don’t want to short it here, but it’s also down, and that move isn’t confirmed, so I don’t want to take it long
AUD – L/N – This is still in that range it’s been in all month and doesn’t look like anything is changing (it is a pretty wide range). Looking at the 4h chart, there appears to be a bit of underlying strength, but it doesn’t look like it’s enough to warrant taking this long. That said, I guess it should be enough to warrant looking at this long, so I guess I’ll do that but I’ll try not to chase
NZD – N – After that huge down-day last week, price seems to want to push up. It’s been up for 4 days in a row, and looking at the 4h chart, appears to be rounding back upward. Earlier today there was a decent breakout, but price has already retreated back so I’m actually not loving this. IDFK, maybe this will push back up, maybe it’ll break the base to the downside. Whatever, maybe I’ll revisit this to the upside, but not right now
CHF – N – This is still in a base and doesn’t seem to be going anywhere. I’ll hold off