Hi everyone.

How you all doing ?

Thing are getting back to mmmm…..let call it normal again here in the Garden Route of South Africa.  We are still in lock down mode 3 but at least loads of people could return to work. We can buy booze again except on a Friday, Saturday and a Sunday…..but its still a no go for the smokers…..there is still a total ban on the selling of cigarettes…..so the black market is making a killing !!!

OK LETS HAVE A LOOK AT SOME CHARTS AND ZONES FOR THE WEEK AHEAD…..

This is a copy of some of the detailed analysis Pierre prvides each week for members who are following his Earth & Sky trading system

What’s cooking in the Forex kitchen this evening ?

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1) Euro Dollar on the DAILY chart:

Direction Indicator: Long on the 4 hour and long on the daily chart however last week we closed only plus 26 pips higher (min requirement is plus 50 pips) than the opening so we can’t fib the 4 hour chart and have to fib the daily chart for this week earth and sky long zone.

Currently, I have an Earth and Sky long zone between 1.1261 and 1.1180 with support areas to keep an eye on the 1.1252 and 1.1223 and 1.1180 areas.

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

Possible counter shorts at 1.1403 and 1.1422 resistance areas.

Notes:

If we break the 75% fib to the downside at 1.1180 for some reason be careful as we can then drop to last month’s low and MS1 pivot and daily 200 EMA at 1.1081 where I will re look to long again as the main trend is still long.

forex trading zones

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2) Euro JPY on the 4 hour chart:

Direction Indicator: Long on the 4 hour and daily plus we closed 77 pips higher than last week’s opening so we good to go and can fib the 4 hour chart for this week’s earth and sky long zone.

Currently, I have an Earth and Sky long zone between 120.98 and 120.49 with support areas to keep an eye on the 120.93 and 120.75 and 120.49 areas.

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

Possible counter shorts at 122.00 and 122.23 areas.

Notes:

If we break the 75% fib to the downside at 120.49 for some reason be careful as we can then drop to last week’s low and WS1 pivot and daily 55 EMA between 120.19 and 119.70 where I will re look to long again as the main trend is still long.

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3) Euro GBP on the DAILY chart :

Direction Indicator: Direction is long on both time HOWEVER LAST WEEK WE CLOSED MIN 77 PIPS LOWER THAN THE OPENING SO WE CANT FIB THE 4 HOUR FOR A LONG ZONE so we have to fib the daily chart for the earth and sky long zone for the week.

Currently, I have an Earth and Sky long zone between 0.9017 and 0.8938 with support areas to keep an eye on the 0.9000 and 0.8980 and 0.8938 areas.

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

Possible counter shorts at 0.9175 and 0.9200 areas.

Notes:

If we break the 75% fib to the downside at 0.8938 for some reason be careful as we can then drop to last month’s low and MS1 pivot and daily 200 EMA between 0.8859 and 0.8800 where I will re look to long again as the main trend is still long

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4) GBP Dollar on the DAILY chart:

Direction Indicator: The direction is long on the 4 hour chart but still short on the daily chart so we can’t fib the 4 hour and have to fib the daily chart for this week’s earth and sky short zone if we want to stick to the main trend.  

Currently, I have an Earth and Sky short zone between 1.2533 and 1.2674 with resistance areas to keep an eye on the 38.2 fib at 1.2488 and 1.2533 and 1.2587 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 1.2251 and 1.2163 areas.

Notes:

Currently sitting on the 38.2 fib area at 1.2488 but be careful as we can go visit the daily 200 EMA at 1.2587 in the short zone.

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5) GBP JPY on the DAILY chart:

Direction Indicator: The direction is long on the 4 hour chart but still short on the daily chart so we can’t fib the 4 hour and have to fib the daily chart for this week’s earth and sky short zone if we want to stick to the main trend.  

Currently, I have an Earth and Sky short zone between 135.67 and 137.69 with resistance areas to keep an eye on the 38.2 fib at 134.71 and 135.67 and 136.19 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 130.70 areas.

Notes:

Loads happening this week at the 38.2 fib at 133.97 …I will still prefer a deeper correction to the short zone but we can’t ignore the 38.2 fib area between 133.97 and 134.71 at all as we have loads of EMA`s and resistance area here too.

forex trading zones

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6) Aussie Dollar on the 4 hour chart:

Direction Indicator: The 4 hour and daily chart is long plus we closed plus 78 pips higher than the opening so we good to go and can fib the 4 hour chart for this week’s long zone…………..

I analyse 10 pairs each week as well as answering members questions in the forum and live training session, I hope you might be interested in joining us, if not enjoy 🙂

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Regards

Pierre

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forex trading zones