Once again, equities appear to be continuing to base. They are up, and the DOW and VT have broken to new highs, but it’s not very convincing. I’ll just take the baskets at face value again.
USD – N – This still looks like it’s made/making a reversal move, but as of right now, it’s struggling to get back up to the swing high. Over the last couple of days, it’s mostly been basing around the resistance level it broke when it spiked last week. Overall, I’m still bullish here, but I’m going to hold off for today
CAD – L/N – This is tough. It spiked yesterday and, more meaningfully, today and broke out of the range it’s been in since late December. That said, it’s now stalling at another level of resistance that was prior support, and looking at the hourly charts, there’s no real tradable pattern. I’ll take a look at this on individual charts, but I’ll be cautious
Today’s Pairs
EUR/CAD – Short
EUR/AUD – Short
EUR – S/N – This is down quite a bit today, and has pushed through a pretty significant support level. It’s now sitting on a support level that was prior resistance back in June/July. It looks like it may have gone as far as it’s going to go today, but since it’s move so far, I’ll take a look at this to the short side
GBP – N – This is up a good amount today. It dropped pretty drastically after spiking yesterday, but has since been pushing back up. It’s not quite near that high, and it’s up against some resistance right now, so I’ll hold off. I’ll set an alert to let me know if it gets back up to those highs
JPY – N – This is still basing and doesn’t look like it has much conviction in either direction, so I’ll hold off here
AUD – L/N – This is in a high base and looks like it’s poised to break out. That said, AUD has been notorious for false breakouts in the past, so I think I’ll add this to check today, but I don’t think I’m actually going to trade it — maybe on a retest, or if I see something amazing
NZD – N – This is up a bit today, but it’s been pushing down for the last 5 days. Looking at the lower time-frames. It’s in a bit of a range, and doesn’t look like it’s breaking in either direction. I’ll hold off here for today
CHF – N – This has pushed down a good amount already this morning, but is stalling out at some pretty major support — and it’s still a good amount above the bottom of that support level. I don’t love this right now, so I’ll hold off