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EUR/JPY 1 Hour Forex Chart
EUR/JPY 1 Hour Forex Chart

It was another volatile, momentum week for EUR/JPY, bringing the pair back to the top of February’s consolidation range.  On the longer-term time frames, the trend is still higher, so the area between bWATR and 141.00 might be a buying opportunity.  But it may be a good idea to check out the forex calendar and news as it seems the fundies and geopolitics have had a strong influence on price action as of late.

  • WO: 140.74
  • Top WATR: 142.02
  • Bottom WATR: 139.46
  • PWH: 143.61
  • PWL: 140.44


GBP/JPY 1 Hour Forex Chart
GBP/JPY 1 Hour Forex Chart

Big volatility for guppy as well, but much more weakness seen in Sterling across the board last week. This could be the start of a new trend for the British pound, so any kind of pullbacks to the area between tWATR and 171.00 might be on opportunity for guppy bears.  Long-term bulls may want to stay patient as the pair approaches the bottom of a range the spans all the way back to December 2013; potential support between 165.00 – 167.00.

  • WO: 168.47
  • Top WATR: 170.14
  • Bottom WATR: 166.81
  • PWH: 172.87
  • PWL: 167.93


EUR/GBP 1 Hour Forex Chart
EUR/GBP 1 Hour Forex Chart

It was a steady grind higher for EUR/GBP last week and it looks like the made new highs for 2014, almost touching .8380.  This area between .83200 – .8350 is still a battlezone area between the bulls and bears, with no clear winner at the moment.  For me, I think we’ll continue to see ranging/consolidation behavior, and with the euro seeing broad strength as of late, the bWATR is attractive as a potential range reversal type play.

  • WO: .8357
  • Top WATR: .8412
  • Bottom WATR: .8302
  • PWH: .8381
  • PWL: .8288

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This content is strictly for informational purposes only and does not constitute as investment advice. Trading any financial market involves risk. Please read our Risk Disclosure to make sure you understand the risks involved.