The markets are already open, and I’m running on not as much sleep as I’d like, so Idk what to do. I, of course, want to make sure I’m looking at the charts but I don’t want to make any stupid mistakes… I don’t think I will, plus it being Monday, I probably won’t trade anyway, so I’ll just dive in.
Equities gapped up this morning and futures look strong. The gap-up pushed through some resistance, too, so we’ll see how it plays throughout the day. As of now there seems to be some indecision, so if I were to put my analysis on it, I’d guess it’ll base or drop around here. I’ll take the baskets at face value.
USD – N – This is down a decent amount this morning, and if equities are in fact rising, it might be a good short. That said, it actually looks like it’s basing right now, and a good amount away from the lows. I’ll hold off on this today
CAD – N – This was down a good amount this morning, but it stalled at some support then rallied — taking back about half of what it lost. I’m still pretty neutral CAD, so I’ll continue to hold off
EUR – N – This is up a good amount today, but it’s currently stalled at a resistance level that it pushed through earlier. Even if this can push back up to the days highs, I don’t see much more opportunity outside of that, so I’ll hold off
GBP – N – This appears to have double-bottomed, and is possibly returning to the upside. As of right now, though, it’s stalled at some support and is up a lot — way too much for me to want to take it further today. Maybe tomorrow, but I think it’s already extended
JPY – N – Same can be said about this as USD
AUD – N – This looks like an inverted USD or JPY. I’m going to hold off here for today, too
NZD – N – This appears to be basing now, but the bodies of the last 3 candles are pretty small and the wicks are relatively large. I don’t see much conviction in either direction right now, so I’ll hold off. I think this may be a risk-off week, just starting out risk on
CHF – N – This is sitting on top of some support and it’s rallied off of the lows. I don’t love this to the downside right now and even if I did, I don’t think there’s any longs I love. Just for S&G, I’ll glance at GBP/CHF, but I don’t think I’m going to do anything. This has to drop pretty far to get back to the lows and then from there, I’m not sure if the R:R would be worth it.