Equities are pushing up this morning — they broke that resistance area and have broken to all-time highs. Some momentum might be dying down, but I’m still going to do my analysis with a risk-on lean.
USD – N – This has been basing for the last 60is hours, and while price pushed down earlier this morning, it failed to reach the lows of the base. I don’t see much conviction in either direction here, so I’ll hold off
CAD – L – After being incredibly strong for all but 2 days since the beginning of the month, this has taken a bit of a pause over the last couple of days. Looking at the 4h chart and it’s in a base, and while it’s still below the highs of the base, it does look like it’s pushing in that direction. It feels like I’m chasing, but it makes sense that this would continue up if it breaks out. I’ll take a look at this to the upside today
Today’s Pairs
EUR/CAD – Short
CAD/JPY – Long
EUR – S/N – This dropped a ton today, taking out a couple of strong support levels. Looking at the hourly chart and it looks like the bulk of the move has been missed, but that may not be the case in individual charts. I’ll take a look here, but I won’t chase if it is extended or anything
GBP – N – This pushed down a good amount earlier this morning, but has since rallied back up to the open. On the 4h chart there was a MA crossover to the downside and price is considerably below both, but on the daily chart price just stalled at the 20 and is well above the 50. This hasn’t done enough to suggest a reversal yet, so I’ll hold off here
JPY – S/N – With strength in equities, I’d expect this to be down a good amount this morning, but it’s actually up. It took out some minor resistance and failed at another resistance area and is pushing down now, but it’s still at that resistance level that’s acting as support now. That might have been enough of a rally to create opportunities on individual charts, so I suppose I’ll take a look at this to the downside
AUD – N – This is still within that range that it’s been in for the majority of the month. Today, price pushed up but failed at some resistance and is currently pushing back down and is failing at some support. I don’t love this in either direction right now, so I’ll hold off
NZD – N – Essentially, the same as above
CHF – N – This pushed up some more again this morning, but failed at resistance which was the top of the base it’s been in for a few days. I still don’t see much here, so I’m going to hold off