Equities closed up yesterday, but only slightly and price pushed back toward the lows by the end of the day. Today, futures aren’t moving much, but appears to be more weak. I’ll take the baskets at face value, but lean risk off.
USD – N – This pushed down quite a bit already this morning, and is now sitting on another, stronger level of support. It’s a pretty parabolic move, looking at the hourly chart, so I’m not sure how much further this could fall. It could go more if equities gain some strength, but it’s not looking that way
CAD – N – After having a strong breakout yesterday, this dropped today, taking back everything it gained. It’s now sitting on a pretty strong support level, that was resistance, and I really don’t know how much momentum it has left. It looks extended to me, so I’m going to leave it alone
EUR – N – This stalled at the resistance level it reached yesterday and pulled back from those highs by the end of the day. Today, it’s dropped and taken back almost all of the gains from yesterday. It’s stalling at the support level that was prior resistance now, so I think I’m going to leave this alone
GBP – L/N – This worries me. This is up strong this morning and has broken that resistance level of this base, so it looks great. But on the other hand, there’s 4 prior candles that technically closed up, but have huge upper shadows. Since this did manage to break resistance, I’ll take a look, but I won’t chase
JPY – L/N – This is up a good amount today, after a small bull pullback on the daily chart. It is up against a pretty strong resistance level, and even maybe sitting below the level I want it to be at, but if this is a risk-off day, this might be in a good position for me to trade it. I’ll see what individual charts look like
AUD – N – This is up a decent amount on the day, but has failed to break yesterday’s highs. This is more than likely still pushing down, but looks like it’s stalling right now. I’ll hold off on this for now, and maybe check in on it near the end of the day
NZD – N – This took back most of the losses it had yesterday, and is now sitting at a pretty major resistance level. Again, it looks like it’s already made the majority of it’s move, so I’ll hold off here for now
CHF – N – Same as everything else. This dropped nearly as much as it rose yesterday and is now sitting on support. I’ll hold off