I just dove into the analysis and didn’t even point out the fact that this is the first time I’m looking at charts in over 2 months (I also haven’t played basketball in about 4, I wonder if they’re correlated…). I’d been extremely discouraged, so I took a step back, but I’m not giving up, so I’m trying again. I don’t think anything moving forward will be with with the prop firm, for better or for worse, so we’ll just see what happens going forward.
Equities, while showing some weakness this morning, are up overall. They’re above both MA’s, too, so It’s looking risk-on. I’ll try to keep that in the back of my mind with the rest of the analysis.
USD – N – Starting with the weekly chart, there was a strong support level that’s held all year, and it’s been pushing up from that level since mid June. Price has pushed through a prior high from late March, but may be stalling at the next resistance area. Looking at the daily chart, this has been riding it’s 20 MA over the last month, and as of today is testing that area. Overall this looks strong, but is in the midst of a few down-days, so I’ll leave this alone
CAD – S – Looking at the weekly chart, this has been ranging for like 4 years. It reached the top of that range at the end of May, and has been pushing down since, but is now about half-way to the bottom of the range, near another support level. On the daily chart, I’m seeing mostly downward momentum since the beginning of the month with a strong spike last week. It’s just been basing over the last couple of days, but I could see shorting this on the break of the current support level. I’ll take a look at this on individual charts
EUR – N – EUR has had no volatility at best and has whipsawed pretty badly at worst over the last few weeks, looking at the weekly chart. Since March, price has basically been moving sideways as well. Looking at the daily chart and I’m seeing more of the same. A lot of choppiness and whipsawing, so I’ll hold off for now
GBP – N – Looking at the weekly chart, this has been in a large range since essentially 2018. For most of this year, starting around April, this has been in a smaller range near the highs of the longer-term range. Looking at the daily chart I still see the relatively tight range that this has been in for the last couple of months, with not a lot of volatility or movement in either direction. I don’t love this here, so I’ll hold off
JPY – N – Looking at the weekly chart, this broke a pretty strong support level last December and has been pushing down since. It bottomed out near the end of May and has been pushing up since then, but it’s currently stalled at some resistance that was created during the push down sometime in April/May. Looking at a daily chart, though, I’m seeing a lot of signs of a reversal back to the upside — the MA’s have crossed back to the upside and there’s 3 subsequent higher highs and higher lows. As of right now, it’s down a bit today, but this might be something to look to take long later this week
AUD – S – Looking at the weekly chart, this was in a nice range for about 3 months earlier this year. Since mid May, though, price pushed through that support level and has been pushing down since. Looking at the daily chart, there was a bit of a rally at the end of last week, but it doesn’t look significant at all. Price is stalled at some support that was resistance in November/December 2020, but overall things still look weak. I’ll take a look at this on individual charts
NZD – N – Looking at the weekly chart, this pushed up strong starting when Covid did until about Mid-March of this year. Since then, price has pushed down a bit, but mostly looks choppy. There was a pretty sizable drop, but that stalled at a trend-line and price pushed back up a bit and ranged for a while there, then at the beginning of June/end of May, price pushed down again, through the trend-line and has been basing since then. Looking at the daily chart, this looks like it’s slowly rolling over to the downside, but it’s not quite there yet. There’s a lot of ranging/whipsawing going on, so I think I’ll leave this alone for now and maybe revisit next week
CHF – L – Weekly chart – This hit a recent low back in March of this year, and since then has been rallying. There was a bit of a drop last month, but it wasn’t that significant and didn’t take out any strong levels, and price pushed back up. Right now, price looks to be stalled at some resistance, too. Looking at the daily chart, there’s a decent base that’s formed around some prior support resistance, so this could be building momentum. If this can break it’s highs of the base, it might have a decent push upward. I’ll look at individual charts