Before I present to you the Weekly Watch, lemme give a shout out to Andy Roddick, who's still alive and kickin' in the U.S. Open. After announcing his retirement last week, he's literally playing like every match could be his last one! Can't help but cheer for an old dog playing in his last tournament!
That said, I hope we all lock in and focus as much as Andy has the past couple of matches. Without further ado, here are the hot levels to keep an eye on this week on EUR/JPY, GBP/JPY, and EUR/GBP!
As I predicted in last week's entry, EUR/JPY did end up ranging throughout the week, finding resistance at 98.80 and support at 98.00. For this week, I'm definitely gonna be monitoring both those levels as potential entry areas. But of course, I'll be waiting for candlestick confirmation before putting up any orders.
- WO: 98.43
- Top WATR: 99.54
- Bottom WATR: 97.32
- PWH: 99.03
- PWL: 97.89
Thanks to Big Pippin for pointing out that descending channel that's forming on GBP/JPY! For this upcoming week, I'll once again be looking for some bearish setups, and I think that the 124.40 (weekly open) and 124.50 MiPs will provide some solid resistance. However, I also won't hesitate to go long should price test the bottom of the channel around the 123.00 MaPs and bottom WATR area.
- WO: 124.40
- Top WATR: 125.55
- Bottom WATR: 123.34
- PWH: 124.83
- PWL: 123.70
If you like ranges, this is another pair to pay close attention to this week. Just like EUR/JPY, EUR/GBP has been stuck in a range, bouncing between the .7900 MaPs and .7950 MiPs. For this week, I'll be looking to scalp off those levels and make some quick pips. However, if we do see solid candle closes above .7950, or below .7900, I'll also think about hopping on the breakout.
- WO: .7911
- Top WATR: .7961
- Bottom WATR: .7861
- PWH: .7958
- PWL: .7901
- Weekly Watch: December 3 to 7, 2012 23:50 02 December 2012
- Weekly Watch: September 24 to 28, 2012 22:58 23 September 2012
- Weekly Watch: September 10 to 14, 2012 23:26 09 September 2012
- Weekly Watch: October 1 to 5, 2012 22:30 30 September 2012
- Weekly Watch: September 17 to 21, 2012 21:18 16 September 2012