Equities gapped down over the weekend, but it looks like they’re trying to rally right now. I’ll largely take the baskets at face value this morning.
USD – L/N – This looks like it’s making a reversal move, as it’s up and broke a couple levels of resistance. It’s hit another resistance level and has pulled back from there, but that could be my trading opportunity. I’ll take a look
CAD – N – This pushed down quite a bit earlier this morning, but has since rallied and took back more than half of the losses. There appears to be a lot of indecision here, so I’ll hold off
EUR – N – This is up a bit on the day, but it’s been down a bit already and up more than it is now — so I’m seeing a lot of indecision. Looking at the 4h. Chart, this is in a decent base, so maybe there’ll be opportunity if it looks like it’ll break that. I’ll set alerts to check when/if that happens
GBP – N – This looks like it’s whipsawing on the daily chart, but the 4h chart shows a more stable base. Still, though, it is basing, and I don’t see much conviction to either side — especially as the MA’s are moving almost sideways. I’ll hold off here and revisit tomorrow
JPY – N – This has been pushing up a good amount today, but it stalled before the prior support – resistance level. I could make the argument for both a bear rally and a power reversal, so I’ll hold off for now. Maybe I’ll revisit this afternoon in preparation for tomorrow
AUD – N – This is down a bit on the day, but it hit some minor prior resistance – support and rallied. Looking at the 4h chart, it now appears to be basing a bit. This doesn’t look like it’s ready to really push down, and it’s pretty far away from the breakout resistance level, so I’ll hold off here
NZD – S/N – This is down for the third day in a row, and is sitting right at some support (that was prior resistance). Looking at the hourly chart, this had a bit of a breakdown and has since rallied. It looks like it’s re-testing, so I should be able to get in at at least the confirmation if not the re-test, so I’ll look at this to the downside
CHF – N – This has moved a bit today, but it’s marginal and price keeps coming back to even. If this can break the base in one direction or the other, it might make for a good trade, but I’m going to leave it alone for now