Equities are in a bit of a holding pattern it appears, so I’m not going to say much about them here, and take the baskets at face value.
USD – N – This dropped some this morning, but stalled at some support (that was prior resistance) and has since rallied. This might be officially reversing to the upside. That said, it’s pretty far off of the highs, so I’ll hold off here for this morning and see what it does the rest of the week
CAD – S/N – This was basing for a long time, but pushed up out of the base last Friday. Since then, though, it’s been pushing back down, and is now sitting right on top of the prior resistance area of the base. If it can push through these levels, it might push back down to the bottom of the range. I’ll take a look at individual charts
EUR – S/N – This broke the bottom of the base that it was in for a couple of days last night, but didn’t push that far down and has since rallied back to that level. Since this did break the lows of that base, I’ll look to short this, but on the confirmation, not the retest, here
Today’s Pairs
GBP/CAD – Long
EUR/GBP – Short
GBP/NZD – Long
GBP – N – This pushed up quite a bit this morning, but stalled — I’d say below, not even at — some resistance and pulling back. Even if this were to regain it’s strength, I’m not sure how much further this can go this morning, so I’ll hold off
JPY – N – This is a bit of a tough one to analyze — On the daily chart, there was a nice spike yesterday, but it failed to really get up to the resistance area, and today it’s down. Looking at the 4h chart, it’s either a huge bear rally or the makings of a reversal. Regardless, it doesn’t look tradable today, so I’ll hold off
AUD – N – This is up a bit on the day, but has pulled back from the day’s highs (which were still below the resistance level). I’ll set an alert to revisit if it gets back to the day’s highs. But for now, I’m going to hold off
NZD – S/N – This was down for 3 days in a row, and now it appears to be basing. A part of me wants to look at this short, but I’m hesitant because price got close enough to the next support level that the R:R might not be there. I’ll take a look at individual charts, though, just in case
CHF – N – This is down a bit today, but it’s ranging and is in the middle of the range. I’ll hold off here