Whoo! Those levels that we pointed out in last week's Weekly Watch were right on the money! The bottom WATR/PWL on EUR/JPY held like a boss, and we were even able to make some pips off resistance at the PWH on EUR/GBP!
Now let's take a look at this week's critical levels and see what's in store for us in the days to come!
Lately, this pair has been responding very well to major psychological handles. Since the PWH and PWL line up perfectly with the 103.00 and 105.00 MaPs, I would continue keeping an eye on these levels!
- WO: 103.86
- Top WATR: 105.32
- Bottom WATR: 102.38
- PWH: 105.00
- PWL: 103.01
GBP/JPY looks like it's content with trading sideways for now. That being the case, I think we'll continue seeing it range between the PWH and the 121.00 MaPs this week... unless we see a major shift in sentiment, of course!
- WO: 121.52
- Top WATR: 122.88
- Bottom WATR: 120.16
- PWH: 122.31
- PWL: 120.93
I would keep an eye on .8500, .8550, and .8600 since these were established as areas of interest last week. Also, the .8550 MiPs is in the same area as the WO, just as the .8500 MaPs is just a few pips above the PWL.
- WO: .8547
- Top WATR: .8618
- Bottom WATR: .8476
- PWH: .8614
- PWL: .8496
- Weekly Watch: December 5 to December 9, 2011 01:05 06 December 2011
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- Weekly Watch: January 16 to 20, 2012 22:50 15 January 2012
- Weekly Watch: March 12 to 16, 2012 22:19 11 March 2012
- Weekly Watch: September 24 to 28, 2012 22:58 23 September 2012