Equities moved up a little yesterday, but aren’t making new highs — that said, USD still did push and is pushing lower. I think I’m going to take the baskets at face value, and try not to think about the correlations.
USD – N – Today’s candle, while down fairly significantly, is within Tuesday’s candle (which made a new swing high) as was yesterday’s. It appears to be basing, maybe, but it’s early to say that so we’ll see how it plays out. I’ll leave this alone this morning and revisit this afternoon
CAD – N – This did push higher and made a new high, but it’s pulled back a lot since. I don’t love the pattern it’s been in, either, so I’ll leave this alone
EUR – S – This pushed down strong today, pushing through support. It’s pulled back and is at that support level again, but that should just mean opportunities for entry
Today’s Pairs
EUR/AUD – Short
EUR/NZD – Short
AUD/CHF – Long
NZD/CHF – Long
GBP – N – This is still within the range it’s been in for a while, and while it’s at the lower end of that range, it’s still staying within it. I think this need to show more direction before I feel comfortable pulling the trigger here — or at least show signs of heading back up toward the top of it’s range
JPY – N – This looks like USD. I’ll hold off for now
AUD – L – This pushed up out of it’s high base. It’s pulled back to that resistance level, but again, hopefully that’s just opportunity to get into the trade
NZD – L/N – This is up strong today, but it’s still within a range that it’s been in since the beginning of the month. I have a tentative long rating here, though, because there’s still quite a few pips between today’s high and the high of the range. Might be an opportunity there
CHF – S/N – This is down quite a bit today, but it’s still within it’s base. I have a tentative short on here, though, in case it can push through the low-end of that base. I’ll look at individual charts and see how they look