Not feeling the absolute best this morning, but nothing too serious. I might be a little hung over still from Friday/Saturday, but largely I just — of course — have anxiety. I know what I need to do, though, so I’m going to get into it
Equities are rallying some today, but not much. Price has pushed above Friday’s high, but still isn’t quite as high as last week’s high. Overall, I’d imagine more weakness in Equities, though they did stall at a fairly strong support level, and in the past has recovered this quickly, so I’m not sure. I’m relatively neutral on the market overall at least today, so we’ll see what the currencies are doing.
USD – N – I’m neutral USD right now, not because I think it’s not going to move much this week, but more because I have too many conflicting thoughts as to where it may go. For the last 2 weeks, this has been tearing upward, but it’s pushing down this morning. It blew through the upper band and got into overbought territory, so I’m not sure how much further this can go. On the other hand, markets can stay irrational longer than I can stay solvent. Price did push through a pretty strong resistance level and is still above that level, so this could simply be a pullback in a continued uptrend. I’ll leave this alone for today and see what I can glean from it later (ha) or tomorrow
CAD – L – CAD’s been up-trending for the last few weeks — really since late December, and it’s been a steady rise with some down-days in between. This did have a fairly sizable drop a couple of weeks ago and spent last week trying to recover (and not fully recovering). That said, the drop failed at the 20MA, and the MA’s are still moving upward. Today doesn’t look like a day to take this long, but I could see some more upward movement here
EUR – N – EUR has been moving sideways for 2 months now. I thought it was making a move last week, but price recovered back into the range. The MA’s are moving sideways along with the bands, so I’ll hold off here
GBP – N – This makes me nervous. Price rallied back to the highs last week, and both on Friday and today have wicked above the highs it make on that huge run up ending a couple of weeks ago. As of right now, price has a long upper and lower tail and is sitting like right at the open. I don’t love this to either direction right now, so I’ll revisit later today or tomorrow
JPY – N – This is down a good amount on the day, but it looks like it’s just basing right now, and building momentum to make another push up. The main thing giving me pause on that idea is if Equities do in fact rally and start moving positive again, that should cause this to drop. I think I’ll leave it alone like I’m doing most everything else today
AUD – S – This is on a huge up-move today, but it’s coming off of 3 down-days in a row, and off of the lower band. Price failed at a resistance area, too, so I think this has further weakness this week. I’ll take a look at it short if not today, later in the week
NZD – S – This rallied a little today, too, but not nearly as much as AUD, and as of now, is already sitting closer to the open/lows of the day than the highs. This definitely looks weak, but it’s riding the lower band down, pushing through it several times, and it’s been oversold for over a week now, but that’s just the basket, I’ll see what it looks like on individual charts
CHF – N – There’s a lot of choppiness here, going back to early December. Since then, it’s largely been moving sideways but has a few days where it just ripped. Those days are going to be hard to predict, though, and on top of that, there’s not a ton of directionality to CHF right now, so I think I’ll hold off. A part of me is flying through this analysis because I have to go to the bathroom, but I’m also (usually) confused by CHF. I’ll leave it alone for now and revisit tomorrow