Equities are pushing up again this morning, more so than they have been the last few up-days. (and actually, yesterday wound up finishing down, strangely enough). I’ll, again, lean a little risk on this morning.
USD – N – This is pushing down yet again today, but still within the confines of what I’d call this reversal move to the upside. It has just pushed below the 50MA this morning, but it’s just wicked down so far, so that’s not convincing. I’m not ready to short USD again, yet, so I’ll hold off here for this morning (unless I feel like I should revisit it because I don’t like anything else)
Today’s Pairs
AUD/CAD – Long
NZD/CAD – Long
CAD – S/N – This is pushing down today, and it looks like it has just broken, or is just about to break the neck of the head and shoulders I recognized yesterday. I’ll definitely look at this to the downside
EUR – N – This is pushing down this morning, but has already stalled at a resistance level that was prior support (and a prior swing high). This looks like a reversal move to the upside, so I’ll leave this alone until I get more confirmation. If this isn’t a reversal move, I’d like to see this break the support level more meaningfully
GBP – N – This pushed down this morning, but fairly quickly recovered back to it’s open. The area it stalled at before rallying is a pretty strong support area from late March, and there’s not much more room outside of this one to the next one. I’ll leave this alone for now
JPY – N – This is mostly basing right now, at the bottom of/within a larger range. It still doesn’t look like it has much conviction behind it in either direction, so I’ll hold off
AUD – L/N – After a huge up-day yesterday, this is up a decent amount again today. Looking down at the hourly chart, and it’s formed a base and doesn’t look extended at all. I’ll take a look at this to the upside
NZD – L/N – This is up again today too and doesn’t look extended. It has also formed a pretty clear bull pullback and is back to the day’s highs. I’ll take a look at this to the upside as well
CHF – N – This may have made a reversal move earlier this month and is now just retesting the prior resistance level. I don’t want to short if it’s just a retest and I don’t want to take it long if it isn’t, so I’ll hold off