Good morning all. Here is a copy of Pierre’s analysis for the week ahead.

This is shared with members on a Tuesday and Marc’s M2 from weekly and daily charts is shared on a Sunday before the markets open

I Hope you are well and healthy.

Well we in our last week of HARD LOCK DOWN here in South Africa and most people can’t wait just to go for a freaken walk again.

How`s things your side?

Let look at some charts………….

The pairs with the cleaner charts are…..

  • Euro/Dollar
  • Euro/JPY
  • GBP/Dollar but be careful as we might pop to the plan B short area.
  • GBP/JPY
  • USD/JPY

PLUS TAKE NOTE WE HAVE A TRIANGLE ON …..

USD/CHF

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Reminder: 

Please use this weekly thread in the members-only forum to post any charts you might be looking at to trade for the week ahead (Earth and Sky method or your own combination) or if you have any questions trading

I will answer questions or look at your charts and give my opinion – – so don’t be shy……..

I will also be posting the pairs and charts I have on my radar here as we hit the zones……..so keep an eye on it.

What’s cooking in the Forex kitchen this morning?

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1) Euro Dollar on the DAILY chart:

Direction Indicator: Short on both time frames HOWEVER last week we only closed min 38 pips lower than the opening (dint get to the min requirement of at least min 50 pips) so we can’t fib the 4 hour for this week’s short zone and have to fib the daily chart.

Currently, I have an Earth and Sky short zone between 1.1066 and 1.1281 with resistance areas to keep an eye on the 38.2 fib at 1.0964 and 1.0998 and 1.1066 areas.

I will re – look to short this pair if we find confirmation to short from any of the above levels.

Possible counter long at 1.0600 area.

Notes:

Main trend is still short….look for resistance at the EMA`s for possible shorts to set up from again.

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2) Euro JPY on the DAILY chart:

Direction Indicator: Short on both time frames HOWEVER last week we only closed min 37 pips lower than the opening (dint get to the min requirement of at least min 50 pips) so we can’t fib the 4 hour for this week’s short zone and have to fib the daily chart.

Currently, I have an Earth and Sky short zone between 118.35 and 119.75 with resistance areas to keep an eye on the 38.2 fib at 117.68 and 118.35 and 118.65 areas.

I will re-look to short this pair if we find confirmation to short from any of the above levels.

Possible counter long at 116.00 and 115.54 and 115.00 areas.

Notes:

If we make new lower lows without any correction follow price with the fib to get the adjusted short zone for the week.

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3) Euro GBP on the DAILY chart :

Notes:

Direction Indi is short on the 4 hour but still long on the daily…..if we fib the daily chart from last month’s low to last moths high we can see price already broke the 75% fib at 0.8820 to the downside……so we need a plan B

Plan B…..we have key support at the daily 200 EMA at 0.8700 area this week. These will be the levels to keep an eye on for a possible long…..and if they break to the downside a possible M2 short set up.

Stochastic is oversold and we have MACD divergence so it’s a warning for a possible bull move.

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4) GBP Dollar on the 4 hour chart:

Direction Indicator: The direction indicator is short on both time frames and we closed min 127 pips lower than the opening so we good to go and fib the 4 hour chart for the short zone this week.  

Currently, I have an Earth and Sky short zone between 1.2371 and 1.2434 with resistance areas to keep an eye on the 1.2420 and 1.2434 areas.

I will re-look to short this pair if we find confirmation to short from any of the above levels.

Possible counter longs at 1.2243 and 1.2119 support areas.

Notes:

Keep our eyes on the 200 EMA`s in the short zone to give resistance this week for possible shorts to set up from……if we pop to the upside for some reason then I have another area at the daily 55 and WR1 pivot at 1.2498 where I will look for resistance to short from again.

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5) GBP JPY on the 4 hour chart:

Direction Indicator: The direction indicator is short on both time frames and we closed min 131 pips lower than the opening so we good to go and fib the 4 hour chart for the short zone this week.  

Currently, I have an Earth and Sky short zone between 133.31 and 134.01 with resistance areas to keep an eye on the 133.40 and 133.64 and 134.00 areas.

I will re-look to short this pair if we find confirmation to short from any of the above levels.

Possible counter longs at 131.65 and 130.37 support areas.

Notes:

Keep our eyes on the 55 EMA`s in the short zone to give resistance this week for possible shorts to set up from……if we pop to the upside for some reason then I have another area at the daily 200 and WR1 pivot at 134.21 and WR1 pivot at 134.47 and 134.72 where I will look for resistance to short from again.

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6) Aussie Dollar on the DAILY chart: members only…..

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7) Aussie JPY on the DAILY chart:

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8) Dollar JPY on the 4 hour chart:

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9) Dollar CAD on the 4 hour chart

 

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Regards

Pierre

 

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