Watchlist...

Here are some technical setups I'm looking at. However, be mindful of all the key news announcements this week. FOMC Statement, ECB Conference and NFP are sure to provide some high volatility.

FTSE 100


I posted a few months back (http://qitrading.blogspot.co.uk/2012/06/swing-divergence-setups.html) about the swing setup provided on the S&P500 which coincided with bullish election year seasonality. There have been a few pullbacks to capitalise on this and it seems as the FTSE may follow. I'm looking for a break and re-test above the 5730 level with a target back up to 6100. Whether you are learning to trade FX, Indices, Stocks or Commodities....we are trading price action and the battle between buyers and sellers and mass psychology which enables us to trade multiple markets in the same way.

EURNZD


Each previous swing low on August 2011 and February 2012 came off the 1.272 Fib Extension of the previous wave. We are currently at the same level with price action diverging on the RSI. Target would be the 50% retracement from May 2012 swing high to current swing low, as both previous cycles of the 1.272 have gone to the 50% retracement level. I use Fibonacci extensively and it is worthwhile learning to trade by understanding cycles and cycle strength.

USDCAD


Retracement to parity and 500dsma, as well as the lower support trend channel line.

More to follow soon!

Happy trading!