Equities opened higher yesterday, but ended up closing slightly lower. Today, equity futures are up, but less than 1%. Because of this, I’m assuming there’ll still be weakness in equities, but that being said, they’re also in a bit of a base right now. I think, since there’s not a ton of “directionality”, I’ll take the baskets at face value.
USD – N – This dropped pretty significantly yesterday, after having highs almost as high as the new swing high that was made on Tuesday. This is down again today, but is fully within yesterday’s candle. I don’t love this today, so I’ll leave it alone
CAD – N – This looks like, over the last week or so, it’s moving a bit more normally than it did in March. That said, I still don’t love the pattern, It looks (if I’m focusing just on the “normal” moves) like it’s in a down-trend, but is in a rally right now. In the bigger picture, this is still within a range that it’s been in for a while, and looks like it’s being squeezed. I’ll leave this alone for today, and see where it’s at on Sunday or Monday
EUR – N – This dropped a lot yesterday, and I took a short trade. Today, it’s up a little bit, but not much, and it looks as though it’s stalling out at some resistance that was the support level of the base. I don’t like this enough to take another position here, so I’ll just monitor the trade I’m in
GBP – N – This is still in that low-base, and while It’s moved a little higher and lower on the day so far, it’s sitting at the open. I’ll leave this alone for now, and see if it breaks out of this range next week
JPY – N – This is similar to USD still, but I don’t even see that much weakness behind this. I’ll leave it alone for now
AUD – N – This pulled back a little yesterday after pushing above resistance. It’s still up today, but it’s not as high as it was yesterday right now. I like the trade I’m currently in, so I’ll monitor that, but I don’t like AUD enough to take a second trade
NZD – N – After a spike yesterday, this is down a bit today — but not much at all. Overall, this is still ranging, too, so I’ll hold off until I see some “directionality” (or at least a bounce/pullback off the bottom/top of the range)
CHF – N – Looks exactly like EUR. I could potentially look to short this, but I don’t like anything enough to take long against it, so I’ll just leave it alone