Cyclopip

Thanks to some unexpectedly positive data, Guppy found solid support yesterday and advanced up the charts. Unfortunately, GBP/JPY didn’t dip enough to trigger me at 123.00 and I missed the move. So much for catching a retracement!

Monday morning means it’s time to take a look at this week’s critical levels on EUR/JPY, GBP/JPY, and EUR/GBP! Check out my charts, fellas!

While all the technical signals lined up nicely, fundamentals had other plans for me, and my EUR/GBP position got stopped out.

AUD/JPY broke out late last week, but unfortunately, it turned out to be a fake out! Doh!

How about a shoutout to Michael Phelps, Usain Bolt, and Andy Murray! Hopefully, with the help of this edition of the Weekly Watch, we’ll all be winners in the forex market this week as well!

So much for Lady Luck! EUR/AUD began to range over the latter part of last week, and unfortunately, I finally got stopped out on Friday. All those pips down the drain! Darn it!

It’s an exciting time for sports fans all over the world as the London 2012 Olympics are well underway! And it seems that the forex markets are joining in on the hype as well – they’ve been really active as of late!

So this week, I’m hoping to replicate Ernie Els’ consistent performance and grab a winner or two, not in golf, but in forex! Hopefully, these charts will help me out:

After ranging for a couple of days, my second attempt at shorting EUR/JPY finally ended in victory! I’m now a believer – patience pays, fellas!

I really thought I caught myself a winner with this one. I was up 83 pips at one point! Find out what happened to this EUR/JPY trade after the jump.