Watchlist Webinar for October 12, 2009
Here’s the archive of today’s WLW.
Mostly fundamental talk today, but I think it’s important stuff to be thinking about.
Feel free to continue the discussion here. Whether you agree with me or not I think it’s great to talk openly and look at all sides.
Since we didn’t talk a lot of technicals, I’ll tell you I’m watching the majors more than the crosses today. Specifically the EURUSD and the GBPUSD. The EUR has got such a great plan going either direction that I feel comfortable jumping in when the market does (we did talk about the techs on this pair in the WLW) and the GBPUSD (which we skipped), is another great opportunity, in my mind because it has hit old support and rejected low and it is divergent on the daily chart. I think it could be ready for a good bounce, but may be tricky today w/ lower volume than usual (US, Canada, and Japan area all on holiday today).
Let me know what you’re watching/thinking/trading!! 
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 
Hi Triffany,
I have been watching and trading small positions on both of these pairs over the past couple weeks. The EUR/USD has been way more predictable. On Friday I thought that the GPB/USD was going to break the 4hr trend and resistance at 1.6124 but what a head fake that was! Not sure why the EUR has outpaced the GPB so drastically other than Brittan being a bit more public about their problems. Either way, I agree with you that it may be overdone as seen buy the relentless uptrend for the EUR/GBP.
One more comment and that is about the Yen. I have been waiting and waiting for weakness but no such luck. When do you think there will be a satisfactory break for the USD/JPY downtrend? I am look at around the 92.40 area. I realize that there has been somewhat of a reversal but not convinced it will hold.
Thanks,
Al
Will some brave person tell me what AUDUSD is going to do? Yes, the interest was increased to 3.25% but it is still grossly overvalued. I shorted it about 10 hours ago, took profit and got back short too early…. Is the bloody thing going to retest the high at .90925 or is it going to break out? Or is it going to retest and break lower? I know it will eventually go lower, but when and how much, please? Triffany, are you listening? I hope?
USDCAD, NZDUSD, AUDUSD and USDJPY are all overextended and some are even divergent. My fear is, though, that there will not be enough volume today to give us a full pullback. (No trading in US, Canada or Japan today.)
USDCAD gave me that one more nudge to the South that I was expecting and now I’m watching for a movement long a close above 1.040 should be good enough for a first position, w/ a retracement level at 1.05 or so.
The Asian session may pick up some volume on the other three, however.
The AUDUSD may pull back to about .88 or so, but it wouldn’t surprise me to see this one make one more impulsive jump to the long side first. It would be great if it could do that and then be divergent.
The NZDUSD nearly completed its pullback to .7225 but lost momentum. Another close below .7320 might do the trick on that one.
I think the USDJPY is done pulling back, however and am waching for a bounce off of 89.70. JPY weakness is the long-term view on this one. Anyone trade options? 2-3wks on this could be great!