Good morning everyone.

How did it go this week?

I am spitting feathers here this morning as we can see, by looking at the charts, that I was once again spot on with my levels I called where I wanted to do  business from this week…….but with the FED interest rate and Fed`s monetary policy statement scheduled for Wednesday – made it just a little risky to take the trade set ups just before the news…..so some of the trades triggered nicely but the timing was up to %%^^&%$ 🙂

Never the less…..it still feels good to call the right levels and will give me the confidence to soldier on next week !!

Remember its NFP today…..so No Forex Please

Let`s leave the trading till next week and let the dumb money trade today.

………………………………………………………………..

Source: The Millionaire’s Club

………………………………………………………………..

Let`s have a look at what happened in the FX kitchen this week:

………………………………………………………………..

1) Euro Index on the DAILY chart:

Last week we closed only min 2pips lower than the opening…..so we can’t fib the 4 hour to get a long zone – we have to fib the daily chart.

Currently I have an Earth and Sky long zone between 107.99 and 107.27 with areas to keep an eye on the 38.2 fib at 108.33and 108.20 and 108.00 support areas where after I will re look to long this index again.

Possible counter shorts at the MR 2 pivot at 109.45.

Notes:

Currently we camping out at the 4 hour 55 EMA and MR1 pivot at 108.79 – however I will prefer a bigger correction on this one…..will re look for support from the 38.2 fib area at 108.33 and 108.20 and 108.00.

Fridays notes:

For most of the week price camped out at the 4 hour 34/55 EMA`s at 108.80. Later in the week it also looked if we were trapped in a triangle on this index.

The triangle broke to the upside yesterday however – We have a new month with new monthly pivots in place so first resistance at 109.59 that also holds hands with the top area.

……………………………………………………………….

2) Euro Dollar on the 4 hour chart:

Currently I have an Earth and Sky long zone between 1.2376 and 1.2295 with areas to keep an eye on the 1.2363 and 1.2325 and 1.2300 support areas where after I will re look to long this pair again.

Possible counter shorts from the 1.2572 resistance area.

Notes:

While the 4 hour 55 EMA at 1.2325 holds….my bias will be to look for long set ups. If it breaks to the downside….be careful as we can go visit the WS1 pivot and last week’s low area at 1.2249 and 1.2214 where I will re look for support to long again.

Fridays notes:

Price dip into the Earth and Sky long zone we had and found support at the 62.5 fib and 55 EMA at 1.2335 where after we had a bullish run.

Currently we hitting the 1.2500 resistance level so take note of it if you still in a long position here.

Possible top area at 1.2537 and 1.2572 for counter shorts.

……………………………………………………………….

3) Euro JPY on the DAILY chart:

Last week we closed min 67 pips lower than the opening…..so we can’t fib the 4 hour to get a long zone – we have to fib the daily chart as we to flat on the 4 hour chart..

Currently I have an Earth and Sky long zone between 134.33 and 133.18 with areas to keep an eye on the 134.35 and 133.77 support areas where after I will re look to long this pair again.

Possible counter shorts from the 136.41 and 136.63 resistance area.

Notes:

Wait for good solid support first…….If the 55 EMA and monthly main pivot breaks as support be careful as we can drop to the MS1 pivot at 132.99 area.

Fridays notes:

Price found support at the 4 hour 200 EMA at the 38.2 fib at 134.88 this week. We had 2 daily candles with big bearish wicks but after that we had a good solid bullish run.

Currently at profit take area at the MR1 pivot at 137.13 9 (new month with new pivots) so possible counter trade can be on the cards.

……………………………………………………………….

4) Euro GBP on the 4 hour chart :

Yesterday !!!

Currently I have an Earth and Sky short zone between 0.8760 and 0.8797 with areas to keep an eye on the 0.8786 and 0.8797 resistance areas where after I will re look to short this pair again.

Possible counter longs from the 0.8706 and 0.8687 support area.

Notes:

We broke the earth and sky short zone to the upside…..Next key resistance will be between 0.8827 and 0.8838 area where I will re look for a short set up again.

Fridays notes:

Price broke our original Earth and Sky short zone to the upside but slammed right into the roadblock area we had between the 200 EMA and other EMA`s (between 0.8827 and 0.8838 area) where we found resistance where after price dropped like a stone.

We didn’t get to our preferred profit take level at last week’s low area and WS1 pivot at 0.8687 but never the less…..our roadblock area we called was spot on.

……………………………………………………………….

5) GBP Dollar on the 4 hour chart:

Currently I have an Earth and Sky long zone between 1.4103 and 1.3979 with areas to keep an eye on the 1.4020 and 1.4000 support areas where after I will re look to long this pair again.

Possible counter shorts at 1.4381 resistance areas.

Notes:

While the 4 hour 55 EMA holds at 1.4020 my bias will be to look for long set ups again. If it breaks to the downside be careful as we can drop to the WS1 pivot at 1.3887 and last week’s low at 1.3855 area.

Fridays notes:

Price dropped in to our Earth and Sky long zone and we went deep. Price only found support at the 1.4000 level and pushed hard bullish after that with the help of some news.

Currently getting to a roadblock at the psychological level at 1.4300 and 1.4351 ( last week’s high) so take note of that.

……………………………………………………………….

6) GBP JPY on the WEEKLY chart:

Notes:

Price bumping the weekly 200 EMA at 153.96 this morning again. This will be a key level to keep an eye on.

Last week we closed with a doji at these important resistance EMA`S so warning that we must take note of it.

We have MACD divergence so another warning sign that a possible correction can be on the cards.

Fridays notes:

Price fooling around this weekly 200 EMA still but we still have MACD divergence in place so looking for a short as a bias. not a M2 long.

……………………………………………………………..

7) Aussie Dollar on the 4 hour chart:

Currently I have an Earth and Sky long  zone between 0.8046 and 0.8001 with areas to keep an eye on the 0.8058 and 0.8035 support areas where after I will re look to long this pair again.

Possible counter shorts at 0.8136 and 0.8182 resistance areas.

Notes:

Currently getting closer to the first support area at the 38.2 fib at 0.8067 so take note.

Fridays notes:

Early in the week we dropped into the zone and found support at the 55 EMA at 0.8045 and jumped bullish with the help of news.

Price didn’t get to the preferred profit take area and found resistance at 0.8100 where after it dropped back this time dropping deep into the Earth and Sky long zone.

Currently finding support at the WS1 pivot at 0.8002 but be careful

My feeling is we might break it to the downside and maybe go visits the 200 EMA at 0.7907 where I will re look to long.,

………………………………………………………………

8) Aussie JPY on the DAILY chart:

Last week we closed min 43 pips lower than the opening…..however the main trend is still long so we can’t fib the 4 hour but have to fib the daily chart for the long zone.

Currently I have an Earth and Sky long zone between 86.80 and 85.66 with areas to keep an eye on the 38.2 fib at 87.34  and 86.80 and 86.60 support areas where after I will re look to long this pair again.

Possible counter shorts at 89.02 and 89.17 resistance level.

Notes:

While the daily 200 EMA holds at 86.60 my bias will be to look for long set ups.

Fridays notes:

For most of the week price just camped out at the 200 EMA at 87.70 and 87.53 areas. Looks like we now trapped in a triangle here too.

………………………………………………………………

9) Dollar JPY on the 4 hour chart:

Currently I have an Earth and Sky short zone between 109.80 and 110.56 with areas to keep an eye on the 38.2 fib at 109.40 and 109.80 and 110.00 resistance areas where after I will re look to short this pair again.

Possible counter longs at 107.49 support areas.

Notes:

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

Fridays notes:

Price pulled back nicely this week. Our first roadblock was at the 38.2 fib at 109.44.

We breaking it now to the upside so I will be keeping an eye on the 110.00 and 110.52 level for resistance where possible shorts can set up from again.

………………………………………………………………

10) Dollar CAD on the 4 hour chart:

Currently I have an Earth and Sky short zone between 1.2395 and 1.2451 with areas to keep an eye on the 38.2 fib at 1.2364 and 1.2396 areas where after I will re look to short this pair again.

Possible counter longs at 1.2231

Notes:

Keep an eye on 38.2 fib at 1.2368 this week too.

Fridays notes:

Price pulled back nicely to the 38.2 fib in the early part of the week. Price found the resistance we wanted at the 1.2364 level where after it dropped back to our profit take area at last week’s low.

Price made new lows so we had to follow it with our fib to get the adjusted trading zone for the week.

………………………………………………………………

11) Dollar SGD on the 4 hour chart:

Currently I have an Earth and Sky short zone between 1.3116 and 1.3170 with areas to keep an eye on the 1.3117 and 1.3150 resistance areas where after I will re look to short this pair again.

Possible counter longs at the WS1 pivot at 1.2974 support area

Notes:

I will be keeping an eye on that 55 EMA at 1.3142 this morning for resistance

Fridays notes:

Price pulled back to the zone and found resistance at our 55 EMA in the zone at 1.3130 but just keep on slamming into it for days now – currently in a range of 60 pips.

Be careful as we might break to the upside

………………………………………………………………

12) Dollar CHF on the 4 hour chart:

Currently I have an Earth and Sky short zone between 0.9465 and 0.9553 with areas to keep an eye on the 38.2 fib at 0.9422 and 0.9458 and 0.9513 resistance areas where after I will re look to short this pair again.

Possible counter longs at WS1 pivot at 0.9204

Notes:

We have a roadblock area at the 38.2 fib this week first but I will prefer a bigger correction on this index to at least the 34 or 55 EMA levels.

Fridays notes:

This one didn’t give the correction we wanted…..instead we made new lower lows so we had to follow it with the fib to get the adjusted trading zone for the week.

Possible support at the WS1 pivot at 0.9204.

………………………………………………………………

13) Dollar Index on the 4 hour chart:

Currently I have an Earth and Sky short zone between 89.56 and 90.13 with areas to keep an eye on the 38.2 fib at 89.38 and 89.56 and 89.83 resistance areas where after I will re look to short this index again.

Possible counter longs at the 88.05 support levels.

Notes:

Currently hitting the 34 EMA at the 505 fib area so will be keeping an eye on that for resistance – however if that breaks to the upside for some reason I will re look for resistance at the 55 EMA at 89.83

Fridays notes:

Price pulled back nicely to the 50% fib at 89.56 where it found resistance. With the help of the news this one dropped fast and hard.

Currently getting closer and closer to last week’s low at 88.41 so take note.

………………………………………………………………

Regards

Pierre