I hope you guys enjoyed your Halloween weekend! I sure did... It's the only time of the year that I can be myself without drawing too much attention in public places! Haha!
Speaking of drawing attention, these levels on my favorite crosses caught my eye as I was checking out my charts. Have a look!
I think the key level to watch on EUR/JPY this week is 103.00. Check it out, bros! Price had a tough time crossing this mark last week, and so far, it's doing a pretty good job holding as support. If it continues to hold, EUR/JPY could end up making its way back up to 104.00. If it breaks, the bottom WATR could be its next stop.
- WO: 103.12
- Top WATR: 104.28
- Bottom WATR: 101.96
- PWH: 104.60
- PWL: 102.69
I'm not quite ready to commit to a position on this pair since it's still so early in the week. I plan to wait 'til it hits one of the confluence zones around 129.50 or 127.00 before I consider trading a reversal or a breakout.
- WO: 128.33
- Top WATR: 129.46
- Bottom WATR: 127.20
- PWH: 129.66
- PWL: 126.71
Big Pippin pointed out a nice rising trend line on his EUR/GBP daily chart, so I'm expecting this pair to continue climbing. I think the road is clear for a rally at least until the .8100 handle. On the other hand, I'll be looking to get short in case this pair breaks the trend line and trades below the .8000 handle.
- WO: 0.8037
- Top WATR: 0.8090
- Bottom WATR: 0.7984
- PWH: 0.8166
- PWL: 0.8001
- Weekly Watch: December 17 to 21, 2012 22:00 16 December 2012
- Weekly Watch: September 10 to 14, 2012 23:26 09 September 2012
- Weekly Watch: November 26 to 30, 2012 21:55 25 November 2012
- Weekly Watch: September 24 to 28, 2012 22:58 23 September 2012
- Weekly Watch: December 3 to 7, 2012 23:50 02 December 2012