Equities are continuing to push down today, and I’m an hour late. Let’s glance through baskets and see if anything is moving this morning. I’m also going to look at stocks and take a trade in my practice account. I might come back here later to talk through that process
USD – L – Appears to be breaking out today. Made a new high and is still near the highs. Might’ve missed it, but I like it long
CAD – N – This has been down for the last couple of weeks, and while it’s on some support, it’s been pushing up since March. I don’t want to short it here and I don’t see a reversal so I’ll hold off
EUR – N – This broke out and made a new high this morning, but it’s sitting off of those highs and stalled near a pretty strong resistance area. I think I’ll leave this alone for today
GBP – N/S – This has been pushing down since late February, but as of today is on a 2-day rally. Price reached some resistance and is sitting off of the highs right now. Overall I’m bearish here, but it doesn’t look like there’s much weakness today. I’ll look at this short if I don’t like anything else, otherwise, I’ll hold off
JPY – N/S – This has also been largely pushing down (with long bouts of ranging moves) since the beginning of the year, but has been on a rally over the last few days. Price seems to have stalled, but it’s not quite up to the resistance area that was prior support. Overall, this looks weak, but similar to GBP, I don’t know if I want to short it today since it’s on a small rally. I’ll revisit if I don’t like anything else
AUD – N – There’s a lot of choppiness/ranging here lately, and I feel like I could make a fairly strong case for both directions, so I’ll hold off
NZD – S – This dropped hard today. I’ll try to catch something here, though it looks like I probably already missed it
CHF – N – This has been strong and broke out last week, it’s in a bit of a base right now, that still looks strong, but it could base here for a long time. I’ll hold off for today since I’m just day-trading.