Wednesday, February 8th, 2012

Watchlist for Sunday/Monday, August 22/23, 2010

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Here’s the watchlist for next week.

Pair Daily 4h 1h
CADJPY Second support rejection waiting for a confirmation candle/setup. 82.30 – 81.15 Risky small range on the 1h:  81.75 – 81.50
EURJPY Toying with a break of significant support. Nice break and retrace, a bounce away from 109 would confirm short.  Highly divergent right now. 109.40 – 108.25 seems to be the first swing, if no confirmation bounce then watch for further tightening or close above 109.40
EURUSD Small H/S triggered, but on Friday trading. Would like to see a retrace to 1.28 and bounce south to confirm the H/S.  Divergence may bring retracement. 1.2750 – 1.2665
GBPCHF Still within its large range. 1.6150 -1.6050 6050 – 6025 is kind of muddy.
GBPJPY Rejecting the top of the muddy area of the last consolidation. Triangle triggered and has retraced.  A bounce down off of 133.20 will confirm
GBPUSD Price has come all the way back to the Daily TL. Trying to bounce up?  Candles are there, but will wait for early week action. 800sma consolidation
NZDUSD Wide area of indecision.  .72 – .70 Double bottom? Close above .7065 would make a nice trade to the neckline of the double bottom.
USDCAD Wide triangle still tightening up. Impulsive moves up and down.  1.0423 and 1.0335 unretested. 1.05 – 1.0470
USDCHF Trying to break support of the larger consolidation. Broke support and has retested, time to wait for confirmation.
USDJPY Sideways and tightening…almost a descending triangle. 85.75 – 85.20 85.75 – 85.55

Or download it here.

Let me know what you’re watching and trading and I’ll see you at Monday’s WLW, 8am EDT.

Have a fantastic weekend!! :)

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