Watchlist for Sunday, February 7, 2010
Looks like a lot of opportunity for you counter-trend traders. There is a lot of room for correction this week after last week’s strong USD movement. Be patient and wait for your setup, though!!
| Pair | Daily | 4h | 1h |
| CADJPY | Huge consolidation area | Broke away from the 800 consolidation area & has at least retested the lower boundary of that area (83.80), though 84.80 looks like it may be minor retracement level. | Area of indecision 84.10 to 82.70 |
| EURJPY | Large, impulsive moves below significant support levels. | 125.10 broken, but not retested. | AOI 123.10 – 121.45 |
| EURUSD | SO many untested levels and a break below significant support at 1.3750 and shows rejection w/ a long shadow (could just be Friday profit taking tho) | Selling was slowing down even before the end of the day on Friday. Market may start pricing in EZ’s [mostly] good news? | 1.3733 – 1.3590 |
| GBPCHF | Price seems determined to stay in the upper end of the consolidation range. | Still consolidating around the 800sma | Yuck |
| GBPJPY | Wrestling around at a significant support level 140ish | 143.25 not retested | 141.30 – 139.50 |
| GBPUSD | Tore through support at 1.58 | Looked like the sellers moved slowly. Bullish divergence. | Weird divergence here as well – not my favorite. Could be setting up for a pullback though to at least 1.5790. 1.5723 -1.5610 |
| NZDUSD | Finally hit that 800sma | Broke away from the 800sma here and hit PT .7040 not retested. | .6915 -.6815 |
| USDCAD | Staying tight near resistance, but 1.0370 wasn’t retested | Tried to move away from the 800sma consolidation, but quickly lost momentum. Monday’s housing starts may begin the nudge south. | Yuck. I’ll have to wait for better boundaries. |
| USDCHF | Made a run for 800sma, but typical U/Chf has to toy around | Has hit the 800sma breakout PT and will likely consolidate between 1.0784 -1.0660 before moving again | Monday’s retail sales may create a bit of a pullback to the CHF side. |
| USDJPY | Looks to be bouncing up off TL a little and divergent | 89.80 -89 | 90.40 unretested. |
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Be good to you!
Triffany
Triffany Hammond helps traders of all levels, gain the tools, resources and guidance necessary to build on their strengths and work around their weaknesses so that they can make the best possible decisions for themselves in the Forex Market. Triffany is a regular speaker and contributor at 
God help the GBPCHF! -:) Momma, Momma, pull that puppy up; he’s a sick dog.