Good morning everyone.
How was your loooooong Easter weekend ? Did you find any Easter eggs in the garden ?
Mine was super thanks for asking 🙂
I had to attend loads of school ruby over the last 4 days as my `little` 16 year old went on tour this Easter period.
All I can say is – WHAT ON EARTH ARE THE PARENTS FEEDING THESE KIDS !!!! Not Easter eggs I can guarantee you.
I am not the shortest coming in at just over 6 foot (1.89 cm) but o boy sometimes it felt like I am walking among giants !!!
These young boys are huge and full of muscles and testosterone – I must say…. I am glad I left my little girls at home 🙂
Yes yes I know…..try to get a 16 year old giant when his dad is `hanging` with him to smile is hard work !!!
Looking at the charts this morning I must say they don’t look that giant to me and nothing really stands out.
We have loads of daily charts this week to look at with loads of triangles forming and even a possible head and shoulder and wait for it…………….an inverse head and shoulder pattern forming !!
Did you spot them ???
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Whats cooking in the FOREX Kitchen this morning?
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1) Euro Index on the DAILY chart:
Notes:
The direction Indi shows short on the 4 hour and long on the daily. We camping out at loads of EMA`s at 108.41 and by the looks of it we might be trapped in a triangle for now.
I will prefer to look for shorts from the top area at 109.53 where we have previous resistance or long from the support area at the MS1 pivot at 107.65 and daily 200 EMA at 107.15.
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2) Euro Dollar on the DAILY chart:
Notes:
The direction Indi shows short on the 4 hour and long on the daily. We camping out at loads of EMA`s at 1.2318 and by the looks of it we might be trapped in a triangle for now.
I will prefer to look for shorts from the top area at 1.2482 where we have previous resistance or long from the support area at the MS1 pivot at 1.2160.
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3) Euro JPY on the DAILY chart:
Last week we closed plus 140 pips higher than the opening BUT the main trend is still short – we can’t fib the 4 hour to get a short zone and have to fib the daily chart.
Currently I have an Earth and Sky short zone between 130.60 and 131.57 with areas to keep an eye on the 130.75 and 131.26/44 and 131.70 resistance areas where after I will re look to short this pair again.
Possible counter longs at 129.00 support areas.
Notes:
While the 55 EMA holds at 131.70 my bias will be to look for shorts.
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4) Euro GBP on the DAILY chart :
Last week we closed plus 38 pips higher than the opening BUT the main trend is still short – we can’t fib the 4 hour to get a short zone and have to fib the daily chart.
Currently I have an Earth and Sky short zone between 0.8818 and 0.8893 with areas to keep an eye on the 0.8809 and 0.8818 and 0.8829 resistance areas where after I will re look to short this pair again.
Possible counter longs at 0.8667 and 0.8650 support areas.
Notes:
While the 200 EMA holds at 0.8829 my bias will be to look for shorts.
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5) GBP Dollar on the DAILY chart:
Last week we closed min 111 pips lower than the opening BUT the main trend is still long – we can’t fib the 4 hour to get a long zone and have to fib the daily chart.
Currently I have an Earth and Sky long zone between 1.3979 and 1.3845 with areas to keep an eye on the 1.3987 and 1.3946 support areas where after I will re look to long this pair again.
Possible counter shorts at 1.4184 and 1.4245 and 1.4272 resistance areas.
Notes:
While the 55 EMA at 1.3946 holds my bias will be to look for longs.
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6) GBP JPY on the DAILY chart:
Notes:
Leaving this pair alone for now. The direction Indi is mixed on the 4 hour and daily plus looks like we might have an inverse head and shoulder forming here…..little ugly but its there….can you spot it ?
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7) Aussie Dollar on the 4 hour chart:
Currently I have an Earth and Sky short zone between 0.7701 and 0.7730 with areas to keep an eye on the 0.7695 and 0.7704 resistance areas where after I will re look to short this pair again.
Possible counter longs at 0.7632 support areas.
Notes:
If we break the 55 EMA at 0.7704 to the upside for some reason….then I will re look to short from the WR1 pivot at 0.7747 and the 200 EMA`S at 0.7773 area.
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8) Aussie JPY on the DAILY chart:
Last week we closed plus 88 pips higher than the opening BUT the main trend is still short – we can’t fib the 4 hour to get a short zone and have to fib the daily chart.
Currently I have an Earth and Sky short zone between 82.52 and 83.53 with areas to keep an eye on the 82.52 and 82.95 and 83.39 resistance areas where after I will re look to short this pair again.
Possible counter longs at 79.95 support levels.
Notes:
While the 55 EMA at 83.39 holds my bias will be to look for shorts to set up.
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9) Dollar JPY on the DAILY chart:
Last week we closed plus 150 pips higher than the opening BUT the main trend is still short – we can’t fib the 4 hour to get a short zone and have to fib the daily chart.
Currently I have an Earth and Sky short zone between 105.03 and 106.60 with areas to keep an eye on the 106.00 and 106.65 resistance areas where after I will re look to short this pair again.
Possible counter longs at 104.81 support areas.
Notes:
If the 200 EMA at 106.65 breaks to the upside for some reason then I will re look at the 55 EMA and MR1 pivot area for a short setup at 107.47.
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10) Dollar CAD on the DAILY chart:
Notes:
Leaving this one alone for now. We have a big support area between 1.2826 and 1.2749 on this pair….BUT there might be a head and shoulder pattern forming here so we need to keep an eye on this.
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11) Dollar Index on DAILY chart:
Notes:
The direction Indi shows long on the 4 hour and short on the daily. We camping out at loads of EMA`s at 89.93 and by the looks of it we might be trapped in a triangle for now.
I will prefer to look for shorts from the top area at 90.95 where we have previous resistance or long from the support area at the 88.94 support area.
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See you all during the webinar later today !!!
Regards
Pierre
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