Hi everyone

As Marc has mentioned in his blog post yesterday…..we have loads and loads of red flag news this week so take care and try and tiptoe around it.

I had a look at my charts and hopefully, by now you know that I am looking for the pairs where the 4 hour and daily direction points into the same direction and that the opening or closing of the previous weeks meets the requirements too.

Some of the pairs have nice clean zone so keep an eye on them.

 

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Lets have a look at WHATS COOKING IN THE FOREX KITCHEN……..

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1) Euro/JPY on the 4 hour chart:

Direction Indicator: The direction indicator is SHORT on the 4 hour AND THE daily chart and we closed min 216 pips lower than last week`s opening so we did meet ALL of the requirements to fib the 4 hour chart for this week’s Earth and Sky trading zone.   

Currently I have a long short between 122.90 and 123.55 with areas to keep an eye on 122.90 and 123.21 and 123.55 areas again for possible shorts.

Counter longs from the 120.94 areas.

Notes:

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

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2) Euro/NZD on the 4 hour chart:

Direction Indicator: The direction indicator is SHORT on the 4 hour AND THE daily chart and we closed min 120 pips lower than last week`s opening so we did meet ALL of the requirements to fib the 4 hour chart for this week’s Earth and Sky trading zone.   

Currently I have a short zone between 1.7631 and 1.7685 with areas to keep an eye on 1.7631 and 1.7657 and 1.7685 resistance areas again for possible shorts.

Counter longs from the 1.7500 and 1.7400 support areas.

Notes:

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

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3) GBP/JPY on the 4 hour chart:

Direction Indicator: The direction indicator is SHORT on the 4 hour AND THE daily chart and we closed min 120 pips lower than last week`s opening so we did meet ALL of the requirements to fib the 4 hour chart for this week’s Earth and Sky trading zone

Currently I have a short zone between 135.73 and 136.39 with areas to keep an eye on 135.73 and 136.00 and 136.39 for shorts to set up from…..

Counter longs from the 134.00 and 133.00 support areas.

Notes:

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

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4) Aussie/JPY on the 4 hour chart:

Direction Indicator: The direction indicator is SHORT on the 4 hour AND THE daily chart and we closed min 114 pips lower than last week`s opening so we did meet ALL of the requirements to fib the 4 hour chart for this week’s Earth and Sky trading zone

Currently I have a short zone between 74.04 and 74.49 with areas to keep an eye on 74.00 and 74.25 and 74.49 for shorts to set up from…..

Counter longs from the 72.81 and 72.00 support areas.

Notes:

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

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5) NZD/JPY on the 4 hour chart:

Direction Indicator: The direction indicator is SHORT on the 4 hour AND THE daily chart and we closed min 76 pips lower than last week`s opening so we did meet ALL of the requirements to fib the 4 hour chart for this week’s Earth and Sky trading zone

Currently, I have a short zone between 69.57 and 69.92with areas to keep an eye on 69.57 and 69.74 and 69.92 for shorts to set up from…..

Counter longs from the 68.62 and 68.00 support areas.

Notes:

If we make new lower lows without any correction follow price with your fib to get the

 

Some pairs to keep an eye on at key support and resistance areas

1) USD/JPY currently hitting the WR1 pivot at 0.9215 so possible shorts can be on the cards back down to 0.9127 area.

2) Aussie/Dollar might pull back to the 4 hour 55 EMA at 0.7076 area where it can find resistance for a short…if it pops BIG resistance at 0.7122 to keep an eye on to short from.

3) Euro/Aussie currently hitting loads of EMA`S where we have 200 EMA`s at 1.6497 and 1.6485 that can give support to go long from again if it holds as support.

4) Euro/CAD hitting the WS2 pivot at 1.5393 area so look out for possible longs to set up from again. I will re-look to short if we hit all the EMA`S at 1.5540 area again.

5) Euro/Dollar have loads of EMA`S at the 1.1730 area so this will be a key resistance area to look to short from again.

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Happy trading…

Pierre

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