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Monday, June 8, 2009

Things to watch for early this Monday

Hope you all had a great weekend. As some of you know, I'm not a big fan of forcing trades on Monday, unless there is a clear set-up. No set-ups forming yet, as it is still early. What I'm watching right now is if and how the GBPJPY settles into a range of 157-158. Looking to see if the GBPUSD stays below 160.30, which held for a few hours as support, and then became a resistance level after NFP. 1.5970 is where the GAP started, then closed the gap, and has shown resistance for the past 3 hours. This will be the level to watch for now. In the EURUSD, I'm watching 1.40, and watching to see if it holds, bounces, or breaks.

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