I hope you are all well and healthy this morning.

We had a very slow Monday and nothing in my book triggered a trade yet !!

However – I am keeping an eye on the following pairs……for now:

  1. Euro/Dollar
  2. GBP/Dollar
  3. Aussie/Dollar
  4. NZD/Dollar

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1) Euro Dollar on the DAILY chart:

Notes:

The direction Indi is short on the 4 hour and mixed on the daily chart.

Looking at the chart we have 4 options this week..

* I will look for support at the daily 200 EMA and MS2 pivot at 1.1499 followed by a long set up.

* If price breaks this level to the downside…..possible M2 short set up.

* I will look for resistance at the cluster EMA`S we have at 1.1766/79 followed by a short set up.

* If price breaks to the upside for some reason then I will look for a possible M2 long set up.

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2) Euro JPY on the DAILY chart:

Notes:

The direction Indi is short on the 4 hour and long on the daily chart. We can’t fib the daily to get the long zone today as we have the last day of the month and we already broke this month’s low area.

While the roadblock EMA area between 130.74 and 130.27 holds as support….in my book we still long with the main trend.

Currently we broke the first support area here at the daily 55 EMA at 131.88……so by the looks of it we are on our way to the above mentioned support area.

If we do find support at 130.74 and 130.27 I will re look to long this pair back up to the monthly main pivot and roadblock area we have at 132.00

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3) Euro GBP on the 4 hour chart :

Difference between last week’s open/close: Min 76 pips

GAP TRADING:

Did we open with a gap this week? No

Did the gap close? N/A

If the gap didn’t close, pop over to the education tab – Look under Marc`s name for his “Gap Trading Strategy” and how to trade it.

Earth and Sky Trading Zone for the week:

Remember, if price don’t give us the pull back but instead make new lows/highs follow price with your fib to get the “adjusted” Earth and Sky Trading Zones for the week.

Price under 200 EMA
34 EMA (sky) under the 55 EMA (earth)
Direction: Short
Potential trading zone: Between the 0.8863 and 0.8930 levels

Potential area to look for reaction: At the 0.8879 and 0.8900 and 0.8930 levels.

Potential Profit take areas: At the 0.8823 and 0.8783 levels

MACDEE Divergence: A little
Stochastic: Oversold

Counter Trades:

Potential Counter Trades: At the 0.8783 levels

Potential Profit take areas: At the 0.8863 and 0.8879 level.

Correlation: This pair is POSITIVE CORRELATED (moving in the same direction) as the Euro Index, Euro/Dollar and the Euro/JPY. Be careful; don’t take the same trades on these four pairs at the same time

Notes:

We have a little bit of MACD divergence so possible support coming up at 0.8800 and 0.8783 followed by a correction.

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 4) GBP Dollar on the 4 hour  chart:

Difference between last week’s open/close: Min 57 pips

GAP TRADING:

Did we open with a gap this week? No

Did the gap close? N/A

If the gap didn’t close, pop over to the education tab – Look under Marc`s name for his “Gap Trading Strategy” and how to trade it.

Earth and Sky Trading Zone for the week:

Remember, if price don’t give us the pull back but instead make new lows/highs follow price with your fib to get the “adjusted” Earth and Sky Trading Zones for the week.

Price ABOVE the 200 EMA
34 EMA (sky) is UNDER the 55 EMA (earth)
Direction: Mixed
Potential trading zone: Between the 1.3180 and 1.3232 levels

Potential area to look for reaction: At the 1.3206 and 1.3232 levels.

Potential Profit take areas: At the 1.3100 and 1.3076 and 1.3048 levels

MACDEE Divergence: No
Stochastic: No man’s land

Counter Trades:

Potential Counter Trades: At the 1.3048 levels

Potential Profit take areas: At 1.3165 levels

Warning: Counter trades are always more riskier than trading with the main trend so change your lot size accordingly if you want to counter trade !!!

Correlation: This pair is POSITIVE CORRELATED (moving in the same direction) as the GBP/JPY pair. Be careful; don’t take the same trades on both pairs at the same time!

Notes:

I will prefer if we can break and close under the cluster EMA`S at 1.3184 before I will be happy to look for a short.

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5) GBP JPY on the DAILY chart:

Difference between last week’s open/close: Min 106 pips

GAP TRADING:

Did we open with a gap this week? No

Did the gap close? N/A

If the gap didn’t close, pop over to the education tab – Look under Marc`s name for his “Gap Trading Strategy” and how to trade it.

Earth and Sky Trading Zone for the week:

Remember, if price don’t give us the pull back but instead make new lows/highs follow price with your fib to get the “adjusted” Earth and Sky Trading Zones for the week.

Last week we close lower than the opening so price was trending down….we can fib the 4 hour to get a long zone and had to fib the daily chart.

Price is above the 200 EMA
34 EMA (sky) is above the 55 EMA (earth)
Direction: Long
Potential trading zone: Between the 149.30 and 148.13 levels

Potential area to look for reaction: At the 149.00 and 148.41 levels.

Potential Profit take areas: At the 150.85 and 151.65 levels.

MACDEE Divergence: No
Stochastic: No man’s land

Counter Trades:

Potential Counter Trades: At the 150.85 and 152.32 levels

Potential Profit take areas: At the 149.49 and 148.40  levels

Warning: Counter trades are always more riskier than trading with the main trend so change your lot size accordingly if you want to counter trade !!!

Correlation: This pair is POSITIVE CORRELATED (moving in the same direction) as the GBP/Dollar pair. Be careful; don’t take the same trades on both pairs at the same time!

Notes:

Be careful with this currency pair as it can be a wild horse.

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6) Aussie Dollar on the 4 hour chart:

Difference between last week’s open/close: Min 139 pips.

GAP TRADING:

Did we open with a gap this week? No

Did the gap close? N/A

If the gap didn’t close, pop over to the education tab – Look under Marc`s name for his “Gap Trading Strategy” and how to trade it.

Earth and Sky Trading Zone for the week:

Remember, if price don’t give us the pull back but instead make new lows/highs follow price with your fib to get the “adjusted” Earth and Sky Trading Zones for the week.

Price is under the 200 EMA
34 EMA (sky) is under the 55 EMA (earth)
Direction: Short
Potential trading zone: Between the 0.7730 and 0.7782 levels

Potential area to look for reaction: At the 38.2 fib at 0.7705 and 0.7733 and 0.7741 levels

Potential Profit take areas: At the 0.7625 and 0.7583 levels

MACDEE Divergence: No
Stochastic: No man’s land

Counter Trades:

Potential Counter Trades: At the 0.7625 and 0.7583 levels.

Potential Profit take areas: At the 0.7705 levels

Warning: Counter trades are always more riskier than trading with the main trend so change your lot size accordingly if you want to counter trade !!!

Correlation: This pair is POSITIVE CORRELATED (moving in the same direction) as the AUD/JPY pair. Be careful; don’t take the same trades on both pairs at the same time!

Notes:

Keep an eye on the main weekly pivot and 38.2 fib at 0.7705 as first resistance roadblock this week.

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7) Aussie JPY on the 4 hour chart:

Difference between last week’s open/close: Min 184 pips

GAP TRADING:

Did we open with a gap this week? No

Did the gap close? NA

If the gap didn’t close, pop over to the education tab – Look under Marc`s name for his “Gap Trading Strategy” and how to trade it.

Earth and Sky Trading Zone for the week:

Remember, if price don’t give us the pull back but instead make new lows/highs follow price with your fib to get the “adjusted” Earth and Sky Trading Zones for the week.

Price is under the 200 EMA
34 EMA (sky) is under the 55 EMA (earth)
Direction: Short
Potential trading zone: Between the 87.93 and 88.51 levels

Potential area to look for reaction: At the 38.2 fib at 87.77 and 87.93 levels.

Potential Profit take areas: At the 86.78 and 86.46 levels

MACDEE Divergence: YES !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Stochastic: Oversold

Counter Trades:

Potential Counter Trades: At the 86.46 levels.

Potential Profit take areas: At the 87.77 levels

Warning: Counter trades are always more riskier than trading with the main trend so change your lot size accordingly if you want to counter trade !!!

Correlation: This pair is POSITIVE CORRELATED (moving in the same direction) as the AUD/USD pair. Be careful; don’t take the same trades on both pairs at the same time!

Notes:

We have MACD divergence showing up on the 4 hour chart so possible correction on its way.

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8) Dollar JPY on the DAILY chart:

Difference between last week’s open/close: Min 29 pips

GAP TRADING:

Did we open with a gap this week? No

Did the gap close? N/A

If the gap didn’t close, pop over to the education tab – Look under Marc`s name for his “Gap Trading Strategy” and how to trade it.

Earth and Sky Trading Zone for the week:

Remember, if price don’t give us the pull back but instead make new lows/highs follow price with your fib to get the “adjusted” Earth and Sky Trading Zones for the week.

Last week we closed min 29 pips lower than the opening price so we trending down but the main trend is still long……so we have to fib the daily chart.

Price is above the 200 EMA
34 EMA (sky) is above the 55 EMA (earth)
Direction: Long
Potential trading zone: Between the 113.06 and 112.36 levels

Potential area to look for reaction: At the 112.71 and 112.45 levels.

Potential Profit take areas: At the 114.38 levels

MACDEE Divergence: No
Stochastic: Overbought on daily but oversold on 4 hour chart.

Counter Trades:

Potential Counter Trades: At the 114.38 and 114.70 levels.

Potential Profit take areas: At the 113.39 levels

Warning: Counter trades are always more riskier than trading with the main trend so change your lot size accordingly if you want to counter trade !!!

Notes:

While the daily 55 EMA at 112.13 holds……my bias will be to look for longs.

………………………………………………………………

9) Dollar CAD on the 4 hour chart:

Difference between last week’s open/close: Plus 188 pips

GAP TRADING:

Did we open with a gap this week? No

Did the gap close? N/A

If the gap didn’t close, pop over to the education tab – Look under Marc`s name for his “Gap Trading Strategy” and how to trade it.

Earth and Sky Trading Zone for the week:

Remember, if price don’t give us the pull back but instead make new lows/highs follow price with your fib to get the “adjusted” Earth and Sky Trading Zones for the week.

Price is above the 200 EMA
34 EMA (sky) is above the 55 EMA (earth)
Direction: Long
Potential trading zone: Between the 1.2762 and 1.2687 levels

Potential area to look for reaction: At the 1.2762 and 1.2724 levels.

Potential Profit take areas: At the 1.2833 and 1.2911 levels

MACDEE Divergence: No
Stochastic: No man’s land

Counter Trades:

Potential Counter Trades: At the 1.2911 and 1.2952 levels.

Potential Profit take areas: At the 1.2783 levels

Warning: Counter trades are always more riskier than trading with the main trend so change your lot size accordingly if you want to counter trade !!!

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10) Dollar Index on the 4 hour chart :

Difference between last week’s open/close: Plus 98 pips

GAP TRADING:

Did we open with a gap this week? No

Did the gap close? N/A

If the gap didn’t close, pop over to the education tab – Look under Marc`s name for his “Gap Trading Strategy” and how to trade it.

If you don’t have the index on your platform…..download a demo account with Forex LTD at http://www.forexltd.co.uk/

Earth and Sky Trading Zone for the week:

Remember, if price don’t give us the pull back but instead make new lows/highs follow price with your fib to get the “adjusted” Earth and Sky Trading Zones for the week.

Price above the 200 EMA
34 EMA (sky) above the 55 EMA (earth)
Direction: Long
Potential trading zone: Between the 94.31 and 93.89 levels

Potential area to look for reaction: At the 94.31 and 94.01 levels.

Potential Profit take areas: At the 95.00 and 95.38 levels

MACDEE Divergence: No
Stochastic: No man’s land

Counter Trades:

Potential Counter Trades: At the 95.15 and 95.38 levels.

Potential Profit take areas: At the 94.48 levels

Warning: Counter trades are always more riskier than trading with the main trend so change your lot size accordingly if you want to counter trade !!!

Correlation: Remember that the Dollar Index is negative correlated with the Euro Index (They move in opposite direction) so only take one trade at a time as you will double your risk if you took trades on both index`s.

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Regards

Pierre

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