Watchlist for Sunday, January 24, 2010
We had some really impulsive moves today that kind of shook up price across the board. When reviewing this watchlist, keep in mind that what you’re seeing is risk aversion and there isn’t anyway to know for sure if that will continue or correct.
From a purely technical standpoint, the levels I talk about here will remain legitimate until they get touched again…but if risk aversion stays at the forefront that may not be for a long time. So DO NOT discount the momentum side of the trade – there could be a lot of opportunity there on Sunday and Monday.
| Pair | Daily | 4h | 1h |
| CADJPY | Price has come aaallll the way back to the Daily TL, which is also the middle of the daily range it was in before. | Marking new territory around the 800sma? | Broke away from the 800sma and is immediately divergent. 86.65 is uncorrected territory. |
| EURJPY | Sitting right on top of significant support at 126.90 | Hit the 200% extension of the 800 area of consolidation and didn’t consolidate at that level…movement feels impulsive | 131.40 is completely uncorrected. |
| EURUSD | Trying to correct to 1.4265 to start an 800sma consolidation? | Movement is too sideways for my tastes | Doesn’t look like buying sentiment was able to hold. |
| GBPCHF | Clean bounce off of resistance. | Weird h/s off of the 800sma without correction | First attempt toward the 800sma over and time for a pullback? 1.68 – 1.6750 |
| GBPJPY | Major break of the area of indecision, but no retest | Severely divergent | |
| GBPUSD | Bounced off of the daily TL and is headed back toward major support levels. | Breakouts have retested and 1.6 seems likely | 1.6137 – 1.6080 |
| NZDUSD | On its way to the 800sma? | Consolidating around the 800sma | .7155 – .7095 |
| USDCAD | Clean bounce off of support, but recent moves are atypical for u/cad | Double bottom played out nicely, divergent and showing indecision. 1.0365 was never retested | Move outside of the 800sma consolidation feels impulsive. |
| USDCHF | Struggling near recent highs, on its way back to 800sma? | back at the 800sma | Ick…everything looks choppy and undecided |
| USDJPY | Closed back below the h/s neckline, could mean further lows | Tried to leave 800consolidation and stalled | 91 never got retouched. 90.40 – 89.80 |
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Have a great weekend and 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 
