It’s almost 9 now, and the markets haven’t moved much at all. They gapped up, and pushed a little higher on the open, but have pulled back slightly since. I’m just going to take the baskets at face value..
USD – N – This is in a bit of a low base, but the “breakout” point is pretty far outside of the day’s lows. I’ll hold off here
CAD – L/N – This spiked up today and almost looked like it made a trend changing move on the hourly chart, but doesn’t look as good on the daily chart — though it did break to a new high above yesterday’s. I’ll take a look at this to the upside, but I won’t chase
EUR – S/N – This is in a bit of a base, below the base it was in from July – October. That said, on the hourly chart, it appears to be pushing down, though it’s stalling at some support. There’s a decent amount of room below this area, so I’ll take a look to the short side
GBP – N – Still producing candles with long wicks on the daily chart and on the hourly chart it’s basing a bit, but there’s not that much room between the lows and the next support level. I’ll hold off
JPY – N – This is on a strong rally, but after a really strong down-move. It appears to be just bear-rallying but it’s rallied pretty far. I don’t see much potential for this to the upside or downside, so I’ll hold off
AUD – N – This is in a bit of a high base on the daily chart and has already reached the top of the base and pulled back. I’ll hold off here, I don’t see this pushing up out of this range meaningfully this morning
NZD – L/N – This is somewhat pushing out of a base on the hourly chart after a strong spike last week followed by a pullback. I’ll take a look at individual NZD charts
Today’s Pairs
EUR/CAD – Short
I like the bear-rally that it’s in. Plus at a glance, I see a solid R:R. I think I’ll run the numbers and set an entry order here
CAD/CHF – Long
This looks like the upside down version of the above, but at a glance I don’t see a great R:R. I’ll revisit if I don’t like the above after all, but I’ll hold off for now
EUR/NZD – Short
This already made a move and is almost 30 pips below my entry. Missed this one by a couple hours
NZD/CHF – Long
This is in a nice base and hasn’t broken out yet. I’ll run the numbers here, too, and either take both positions (they’re 4 different pairs) or take the one with the better R:R. We’ll see
CHF – S/N – This looks like the inverse of NZD almost. The base on the hourly chart hasn’t been there as long, and it’s not currently pushing out of that area, but otherwise, they look pretty similar. I wasn’t going to look at this to the short side, but if I’m looking at NZD long, I can’t not