Saturday, February 4th, 2012

Watchlist for Sunday/Monday, March 7/8, 2010

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Pair Daily 4h 1h
CADJPY Tightening up?  Short might be smart. Bounce off of 87.85 for a close above the muddy area 88.50 – 87.60
EURJPY Bouncing against interim trendline? Bounce off of 123 or close above muddy area (123.60) 123.60 -122.50
EURUSD Still ranging Just looks range-bound, no great signal here Nested boxes…1.3740 – 1.3490 (Big box) 1.3630 – 1.3555 (small box.
GBPCHF Total support freakout? May need to get back to 1.6350 to figure out its consolidation area. Long is going to be tricky, but a bounce off of 1.6275 might be decent.
GBPJPY Retracement on divergence might have played out, turn on trend trades again? Bounce off of 137 or close above muddy area 137.60 – 136.45
GBPUSD Still trying to reject support, but can’t get any momentum. Not much of a story here. 1.5170 – 1.5130
NZDUSD Double bottom or just consolidating? Tightened range between .7 and .6850 Stuck inside a muddy area at the moment.
USDCAD Triple bottom? Looks ready to bounce long, but seems to have lost buying enthusiasm. 1.0365 – 1.0268
USDCHF Still ranging Tried to poke south, but rejected the muddy area.  Yuck.
USDJPY Seems to be bouncing off of the top of the old channel. Back at the 800 with room for correction to 89.50 90.55 – 90.13

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Hope to see you at Monday’s WLW!  Use the link in the sidebar labeled “march’s wlw link’ and I’ll see you at 8am EST.

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