Equities may have just made a new high this morning, but have pulled back off of those highs a bit. I’ll definitely look risk-on today, though since they did reach all-time highs again.
USD – S/N – This is continuing to get pushed down. Each morning when I look at this, it’s made another new low. It looks a bit extended, but equities are pushing up so I could see this continue to push down. It’s rallying off of the lows, but maybe that’ll give me a good entry point. I’ll take a look at individual charts — This is why I get so frustrated, though. I wouldn’t be surprised at all if I took a shot at this short and it ended up rallying. It’s been down for 4 days in a row, I’ve seen it down for 4 days in a row and yet, I can’t capitalize and make money off of the move………
CAD – S/N – This pushed down this morning and has stalled/rallied at a support level that was prior resistance. If this can push through the day’s lows, it might push down to the bottom of that next range. I’ll take a look at individual charts to see if there’s opportunity
EUR – N – This is up a decent amount this morning and while it has pushed up higher, it failed to really break any resistance. It’s since pulled back off of the highs, too, so I’ll leave this alone for now
Today’s Pairs
GBP/USD – Long
GBP/CAD – Long
AUD/USD – Long
AUD/CAD – Long
GBP – L/N – This is still pushing up — for the third day in a row — and is up against some resistance. It’s stalling at that level, but not really pulling back as of right now. Looking at the basket, I don’t see how far this could push if it does break this level, so I’ll look at individual charts to see if the R:R is there
JPY – N – This hasn’t moved much today and is still in the base. I’ll hold off
AUD – L/N – This pushed up to new highs this morning and has since pulled back a bit off of the highs. It’s not too far off of the highs, though, so that could be a good entry pattern. I’ll take a look at individual charts.. It’ll be hard to pick a target with this one
NZD – N – This is up on the day, but had been up much more but has taken back about half of it’s gains. Also, this stalled at the same level it stalled at when it spiked last Friday, which was still lower than the recent highs. I’d need this to push up much higher before I took it long, so I’ll hold off here
CHF – N – This pushed down quite a bit this morning and stalled at a little bit of support/prior resistance. I was going to say that there’s a good amount of room to the lows, which there is, but there’s also a good amount of areas I could see this stalling at for a long time. I’ll actually hold off here for this morning and maybe revisit this afternoon. I’ll set an alert