Equities continue to push up, but I’m somehow not finding/catching these risk-on moves.. Looks like it’ll be another risk, on day, so let’s see what we can do.
USD – S – This is down quite a bit today, which makes me a bit nervous, but it stalled right at a pretty strong resistance level and there’s a good amount of room to the next one if it breaks this area. I’ll take a look at this to the short side, and try not to chase if things look extended
CAD – S – CAD always gives me pause. Looking at the hourly chart, this has 2 clear bear rallies, and looks to be forming a third. It stalled at a pretty minor support level, but rallied pretty far, so the opportunity on individual charts might not be quite there. Also, actually, looking at the daily chart, the last 3 days (including today so far) have really large wicks. If I don’t see anything else to the short side, I’ll come back to this, but I’ll actually hold off on this for right now
EUR – L/N – I think I’ve become more bullish EUR from the technical standpoint (though I think Maverick is pushing to short it), and it looks like it’s pushing up. It had a nice spike up this morning, and is on a bit of a pullback. It’s fairly deep in the basket but doesn’t look un-tradable. I’ll take a look at individual charts here
Today’s Pairs
EUR/USD – Long
AUD/USD – Long
EUR/CHF – Long
AUD/CHF – Long
EUR/JPY – Long
AUD/JPY – Long
GBP – N – On the daily chart, the MA’s have crossed over to the downside and price closed below both yesterday. Today, price is up a bit, and looking at the hourly chart, looks like it may be a bit of a trend changing move. Regardless of that, though, this has been whipsawing for over a month, and I’m just not sure if it’s something I want to entertain. I’ll hold off for now, maybe revisit if I don’t like anything else I see
JPY – S/N – This has been steadily pushing down, and in the risk on environment we’ve been in for the last 3 days it should’ve been pushing down quite a bit. It’s actually more in a range. This pushed down this morning, stalled at some support then rallied, but it just doesn’t look like it has much conviction behind it. I’ll take a look solely because it’s supposed to be a risk-on play, but I definitely won’t chase here
AUD – L/N – This is pushing up, as it should, it doesn’t look extended on the hourly chart — looks like it might be forming a bit of a base. There’s a lot of areas that could be considered resistance above today’s highs, but I’ll determine that on individual charts.
NZD – N – An argument could be made that this is forming a cup and handle on the daily chart, but on the hourly chart, I don’t like what I’m seeing. It’s been pushing up, and it stalled at some resistance this morning, but there was a spike a couple of days ago, and price hasn’t been able to push up to that level quite yet. I’ll keep an eye on this to see if it does, but I’ll hold off for now
CHF – S/N – This is pushing down pretty significantly over the last 5 hours, but it stalled at some support and rallied. I’ll take a look at this to the short side, to see if it can push back to and through the days lows