I accidentally slept in this morning, so markets are already open and I’m just getting started. They gapped up this morning, and appear to be holding on to that strength, but it is still within the small base it’s been in for the last week. At this point, it looks like it’ll at least try to get up to the highs of the base, so I’ll assume a risk-on sentiment today.
USD – S – This is down today and sitting right on some support. If this can push through this level, the next level of support might be far enough away to make the risk worth it. I’ll take a look at individual charts
CAD – N – I don’t love this right now. It’s been in a base, but the last 4 candles’ lows were in the middle of the base (while the highs were still near the top). Today, it’s pushed through the lows of the last 4 days, but is still above the lows of the base. Because of this, this could be a higher low, signaling a move to the up side in the near future, or this could continue it’s base and go to that next support level.. I don’t like it to the next support level, so I’m going to leave it alone
Today’s Pairs
NZD/USD – Long
AUD/USD – Long
EUR/USD – Long
EUR – L/N – This is still basing, and not moving much at all. An argument can maybe be made that if it breaks out of today’s highs, there could be some pips to be made to the highs of the range. I’ll take a look, but I won’t chase here
GBP – N – This rallied yesterday, and stayed within Friday’s candle, and today it’s down again (though it made a slightly new high). This appears to be basing again, and even if it wasn’t, I don’t like the amount of room there is between the lows of the base and the next support level. I am starting to look at this as a tradable option, though, so that’s positive. I’ll hopefully revisit this afternoon, but if not, we’ll see how this is behaving tomorrow morning
JPY – N – This appears to be in a bit of a bull pullback, and is trying to break out. Despite having pushed up quite a bit on the day (and down quite a bit on the day) it’s still sitting right near it’s open. It might push further down again, but I don’t think it’ll make another new low today. I’ll leave this alone and definitely look to take this long if equities roll over
AUD – L/N – This made another up-move today, and broke through some resistance. That said, it still hasn’t quite reached the breakout area. I’ll take a look at individual charts, though, and see if this makes sense anywhere to the upside
NZD – L – This broke out of the base it’s been in for the last 8 days, and there’s not really another level of resistance it has to break out of before I like this. I’ll definitely look to see if there’s any place I can take this long today
CHF – N – This is sitting right at it’s open in the middle of a small base. It did push lower earlier today, but it didn’t break out of any major support levels. I’ll leave this one alone for this morning