Equities closed lower on Friday, and futures were down yesterday, but are up some by this morning, and currencies are reflecting that move. I’ll take the baskets at face value for now
**Update after analysis: I like NZD to the upside today, but overall, I think markets are going to roll over in the coming days and that’ll bring NZD/AUD with it. I’ll take a look at a couple different charts, but if I don’t think I can get in and out of a trade by the end of the day, I won’t do anything.
USD – N – This is down a good amount today, and if equities do remain strong for the day, I’d expect this to continue. That said, it’s still within a range, and near, but not quite at a support level, so I’ll leave this alone for today
CAD – N – This is still ranging/basing here, and isn’t doing anything that says I should take a trade here, so I’ll leave it alone. Maybe if it can break the lows from last Thursday, there might be opportunity to short this to the next support level, but it’s not near that right now, so I’ll hold off
Today’s Pairs
NZD/USD – Long
NZD/JPY – Long
AUD/NZD – Short
EUR – N – This gapped up slightly, but has since pulled back to Friday’s open. It’s definitely still within it’s long-term range/base, and I don’t see anything here that says I should trade this, so I’ll hold off
GBP – N – After dropping the last couple of days last week, today’s candle is sitting right at it’s open (though it’s pushed up about .4% and down about .3%). It’s also fully within Friday’s candle. This looks like it’s taking another pause. I’ll revisit this afternoon
JPY – N – This started to look strong as equities dropped at the end of last week, but with the strength in futures, this has dropped. I’m overall bullish here — I don’t even want to entertain shorting this at this juncture — so I’ll just hold off and see what happens later today/this week
AUD – N – This is up a good amount today, but still within a base, and not near any breakout levels. I’m going to leave this alone for this morning
NZD – L – This is up a lot today, and near breakout levels — if nothing else, it looks like it could make it to a next level of resistance, which could offer some pips. I’ll take a look at a couple individual charts, but I might have to wait until something looks weak enough to short against this
CHF – N – This is down, and within a base, and doesn’t appear to be near any breakout levels. I’ll leave this alone for today