Good morning everyone.

Marc Skyped me late last night using his phone, asking me do to his mid week update looking at his Sunday analysis and where we are this morning in the Forex market as he can’t find his little cloud to connect to the internet.

Well mate…………It is impossible to find your own little cloud in the land of the long white cloud. 🙂

They are somewhere on a boat cruising the Milford Sound down under in New Zealand……and let me tell you – it can rain down there !!!

How do I know?

Well way way way back, before kids and responsibilities I use to travel allot…..and New Zealand was my playground for a year !!

O boy …..those were the days…………1999/2000 !!!

Let`s have a look at some pairs this morning.

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1) NZD/Dollar on the 4 hour chart :

My analysis from a month ago saw a decent M2 break out pull back entry on a weekly chart, but unfortunately it only went 100 pips. There has been a recent flurry of Nzd news so look out for any more this week, at the moment I am still only interested to short and 0.6950/0.7000 is the area for me. If it breaks higher I will leave for now.

Wednesday`s update :

Marc is waiting to short this pair. He mentioned 0.6950 and 0.7000 but we way out from there so I don’t know if he made a typo.

Personally I will be looking for a counter short from the WR1 pivot at 0.7110. Price already made a nice pin bar here and we have MACD divergence showing up, so we know a correction can be on its way.

Profit take will have to be at the 0.7038 and 0.7021 levels as we have roadblocks here waiting for this pair.

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2) Euro/GBP on the 4 hour chart :

I have explained on numerous occasions how this pair usually stops at whole numbers. Last time I posted I explained that a break of 0.8500 would be good for a long, where did it stop? 0.8600! It was a bit tricky to catch on a daily chart BUT the 1 hour trigger worked perfectly again for the entry and the obvious target came from the daily/weekly.

0.8600 is now key. If it breaks back down you ALL know the target! If it breaks up then see if you catch it on the 1 hour if not look for M2 pull backs on longer time frames.

Wednesday`s update :

Marc has a level at 0.8600 again to look for longs and if it breaks to the downside, possible M2 short set ups.

This level ( if you look to the left of the chart) is also last week’s low so this is big support level. HOWEVER, WE STILL A LONG WAY FROM HERE.

Looking at the earth and sky method, we can see how price dropped into our zone and found support at the 62.5 fib at 0.8657 where after we had the bullish move we wanted. We currently getting very close to profit take, last week’s high at 0.8751.

I will re look to long from out the earth and sky trading zone at the 55 EMA…..possible counter trades at 0.8782 and 0.8800 back down to the weekly main pivot at 0.8691.

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3) Euro/Dollar on the Daily chart :

Very similar. I explained pre the French election result how 1.100 was THE major area. Price hung around there for a while before finally surging upwards, once again the 1 hour trigger system gave an excellent entry. On the daily I want a pull back to long 1.1000 is obviously the better area but it may not go that far, so watch on smaller time frames. 1.1050 is a weekly trend line. Also watch the 1 hour trigger again

Wednesday`s update :

Marc have two levels on this one where we wants to long from…..the 1.1050 and 1.1000 levels. These levels holds hands with my earth and sky long zone too.

We can see that the 50% fib is at the current MR1 pivot point at 1.1050 and lower down at the 62.5 fib we have the 4 hour 200 EMA at 1.1000 so these levels will be key support areas to look for longs from

Currently we highly overbought and I will not attempt any longs from the current levels.

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4) Dollar/CHF on the Daily chart :

When trading the Euro/$ you MUST watch this pair for correlation. It has stopped to the pip at major emas and may well bounce back up, at least temporarily. If it does then it will give more confidence that the Euro is going to pull back down.

Wednesday`s update :

This pair is highly negative correlated with the Euro/Dollar pair. As Marc have said……if you want to trade the Euro/Dollar, keep an eye on this one too for extra information/confirmation before you take the trade.

My Dollar/CHF on the DAILY chart:

Difference between last week’s open/close: Plus 17 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”

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 PLUS 17 pips higher than the opening so we can’t fib the 4 hour chart, but have to fib the daily chart for the short zone. We are so close to the new month so that I have decided that I will fib May to get the zone.

Price is under the 200 EMA
34 EMA (sky) is under the 55 EMA (earth)
Direction: Short
Potential trading zone: Between the 0.9893 and 0.9991 levels

Potential area to look for reaction: At the 0.9846 and 0.9874 and 0.9893 levels.

Potential Profit take areas: At the 0.9800 and 0.9774 and 0.9696 levels.

MACDEE Divergence: No
Stochastic: Oversold

Counter Trades:

Potential Counter Trades: At the 0.9696 and 0.9625 levels.

Potential Profit take areas: At the 0.9774 and 0.9846 and 0.9874 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:

Like the Euro/Dollar…..we highly oversold on this one and need a big correction. I will not look for shorts from current levels.

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6) The Yens are all at major weekly areas.

The $/Yen and Aud/Yen already made their moves, but the Euro Yen is there now. The Aud is also at a major trend line. See the video on how I am looking to play them.

Wednesday`s update :

  1. A) USD/JPY on the 4 hour chart:

Difference between last week’s open/close: Min 4 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 111.47 and 111.82 levels

Potential area to look for reaction: At the 111.47 and 111.65 and 111.76 levels.

Potential Profit take areas: At the 111.00 and 110.73 levels

MACDEE Divergence: No
Stochastic: No man’s land

Counter Trades:

Potential Counter Trades: At the 110.73 and 110.17 levels.

Potential Profit take areas: At the 111.24 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:

Loads of EMA`s in the zone this week so they will be key resistance areas from 111.64 to 111.78

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  1. B) Aussie/JPY on the 4 hour chart:

Difference between last week’s open/close: Min 12 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 83.06 and 83.47 levels

Potential area to look for reaction: At the 83.11 and 83.27 and 83.47 levels.

Potential Profit take areas: At the 82.23 levels

MACDEE Divergence: Yes
Stochastic: Coming out of oversold

Counter Trades:

Potential Counter Trades: At the 82.25 and 82.00 and 81.70 levels.

Potential Profit take areas: At the 83.00 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:

We have MACD divergence here on the 4 hour so look for support at the weekly pivots followed by a counter long back to the weekly main pivot point.

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  1. C) Euro/JPY on the DAILY chart:

Difference between last week’s open/close: Min 33 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 33 pips lower than the opening so we can’t fib the 4 hour chart, but have to fib the daily chart for the long zone. We are so close to the new month so that I have decided that I will fib May to get the zone.

Price is above the 200 EMA
34 EMA (sky) is above the 55 EMA (earth)
Direction: Long
Potential trading zone: Between the 123.59 and 122.49 levels

Potential area to look for reaction: At the 122.77 and 122.49 levels.

Potential Profit take areas: At the 124.59 and 125.81 levels.

MACDEE Divergence: No
Stochastic: Coming out of Overbought

Counter Trades:

Potential Counter Trades: At the 125.00 and 125.81 levels.

Potential Profit take areas: At the 123.59 124.51 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:

I will be keeping an eye on that 200 and 55 EMA in the long Earth and Sky zone to give support before I will re look to long this pair again. If the 55 EMA at 122.21 breaks to the downside, be careful as we can drop to the daily 200 EMA at 120.55 where I then will re look to long if we find support there.

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7) Dollar/SGD on the 4 hour chart :

You MUST keep your eye on Trump and $USA volatility (and FOMC). I am tempted to short if it pulls back to 1.3950 and I prefer a long at 1.3500

Wednesday`s update :

Marc has a level at 1.3950 where he wants to look for short set ups and a level at 1.3500 where he wants to look for longs from……we however way out from these levels.

Looking at the earth and sky method…..we had an awesome short set up from the 55 EMA in the short trading zone and currently very close to the profit take area at last week’s low.

This trade is currently 50 odd pips in profit.

Possible counter longs at the WS1 pivot at 1.3785 and the WS2 pivot at 1.3741

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8) GBP/Dollar on the Daily chart: 

Yes it finally broke 1.3000 which is technically a very big area and normally a buy “signal” BUT you will have seen last week’s 100 pip spike down which took less than 20 pips and a LOT of stops so be very careful. Brexit, elections and market makers ensure this will continue to be a wild and often erratic journey.

Wednesday`s update :

Last week this one dropped from the highs at the psychological level at 1.3000 and broke the 4 hour 55 EMA and 4 hour 200 EMA to the downside.

Now…..we getting very close to big support levels for this pair. At the daily 55 EMA at 1.2785, the monthly main pivot at 1.2754 and the daily 200 EMA at 1.2744.

These levels will be key for us this week. If we find good solid support, possible longs set ups will follow

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9) Dollar/CAD on the 4 hour chart: 

Oil broke up and therefore the $USA fell against the Cad. OPEC meet this week so oil could have a wild ride too.

I am interested to long the Cad and 1.3300 will again be my favoured area.

Wednesday`s update :

Marc is looking to long this pair from the 1.3300 level again.

However….looking at the chart this morning we can see we have a support roadblock before then…..and its big. We have the daily 200 EMA and MS1 pivot waiting at 1.3343 so take note of this level.

Personally:

Last week we broke the support level at all the EMA`S at 1.3507 to the downside…….so looking at the chart this morning we can see we are in between possible resistance level at the cluster EMA`S at 1.3507 and the support level at the 200 EMA and MS1 pivot at 1.3343 so possible trades can set up from these levels.

Look for bounce trades and trade between the EMA`S or if it breaks, for possible M2 set ups.

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A Note from Marc:

New members please note: If I am looking to take a trade long, at for example 1.5000 , I place my order 10 pips above & 10 pips below for a short. This is because price often does not quite reach a major line and you need to allow for spreads. We are NOT a “tipping service” our aim is to teach you how to trade for yourself.

For more up to the minute updates do not forget to drop by the forum in Pierre’s corner.

Regards

Pierre

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