Equities are still in a holding pattern, so I’m not thinking too much about sentiment right here.
USD – N – This pushed through the support it made yesterday, and went almost to it’s 50MA. From there, though, it’s pushed back up pretty strongly and is now back within that range. It looks like it may have been a false move, but it also doesn’t look like it’s threatening to push up much further today either. I think I’ll leave this alone for now
CAD – S – This pushed down through a fairly strong support level, and has since rallied back to just above that level. This spike might be too large to consider this a retest, but looking at the hourly chart, price is starting to push back down a little. I’ll look at this to the short side to see what it looks like on individual charts
EUR – N – This pushed down pretty significantly this morning, taking out some support. That said, it didn’t reach the lows of this range it’s been in and it has already rallied back, almost to it’s open. I don’t love this, still, so I’ll hold off
GBP – N – Yesterday, I thought this was a good long play as price seemed to be rallying after a short pullback after a nice breakout. Price closed near it’s open yesterday, though, and today looks like a lot of the same. There’s been some upward movement this morning, but price is sitting near it’s open already. On one hand, this could be slowly making it’s way back up, but on the other hand, this could be a return to the average/the range it was in prior to the breakout. Right now, it doesn’t look like it’s going anywhere really, so I’ll leave it alone. Hopefully things will be more clear (but I didn’t miss anything) tomorrow
JPY – L – This is down a good amount today, but it’s still riding that MA upward. I’ll look to see if there are any long opportunities available here on individual charts
Today’s Pairs
CAD/JPY – Short
I looked at this yesterday and didn’t have a good R:R so I didn’t pull any triggers, but I put lines at my supposed entries and exits. Price pushed up well above my stop level, and never got low enough to enter. If this is pushing down overall, it’s not doing so anytime soon
AUD/JPY – Short
This is up a bit on the day as well, so again, if this pair is weak overall, it’s not today, so I don’t see opportunity here
AUD – S – After a couple of up-days, this appears to be returning to the downside. Looking at a 4h chart, I see a bit of a double-top, as well as some stalling near a good support area. It definitely looks to me like it has some downward momentum and could break some more if it pushes through support. I’ll take a look at this to the short side
NZD – N – This exploded up last night/this morning, and reached highs that it hasn’t hit since early July, taking out multiple resistance areas in the process. Since then, though, it’s been on a bit of a pullback. I like it to the upside, but I’m worried that this was an extended move and there’s not much more opportunity here. Since it didn’t quite reach the highs from early July, I’ll leave this alone as there’s another level that this has an opportunity to stall at
CHF – N – This has been basing for the last couple of days, but this morning it pushed through some support and has already rallied back up above the open, and is now sitting close to the open. I suppose there’s a mini bear-rally here, but it’s so small I don’t see much movement happening going forward. I’ll leave this alone