Equities are pushing up again this morning, but not nearly as strong as yesterday. It still looks like a risk-on environment, but not as strong, so I’ll largely take the baskets at face value.
USD – N – After the weakness yesterday, this rallied some this morning, but it stalled at the resistance level that was prior support and is pushing back down. This looks like a pretty clean bear rally (or retest), but it’s still a decent amount above the support “breakout” level. I think I’ll just hold off here
CAD – N – This has been quite strong since the beginning of March, but today is still pulling back. It hasn’t made a reversal move so I’ll hold off here
EUR – L/N – This had a nice spike this morning that took out a pretty strong resistance level, but it’s already stalled at the next resistance level. Looking at the hourly chart, there’s a bull pullback that’s formed, but the up-move looks almost extended. I suppose I’ll take a look just in case
Today’s Pairs
EUR/USD – Long
NZD/USD – Long
GBP – N – This is down quite a bit today in an uptrend overall
JPY – N – This is up quite a bit today, too, but stayed within a longer-term range and has already stalled at resistance on the hourly chart (and it looks a little extended) I’ll hold off here
AUD – N – This is still in a range and doesn’t look like it has much conviction in either direction
NZD – L/N – This is down a bit on the day, but it’s right in step with the up push it’s been having since it’s large drop at the end of March. It doesn’t look like it has much upward movement today, though so I’m going to hold off, though there’s a part of me that wants to look at this long, bouncing off of that trend-line. Know what? I’m going to
CHF – N – On a spike, within a range, looks extended