Good morning everyone.

Hope you are well and healthy and don’t have a pain on your chest after the Aussie pairs broke important support levels after negative data yesterday ?

But don’t fear when Forex Mentor Pro is near.

We had our original trading plan in place……so all we need to do now is to adjust it a little and wait for price to come to us before we take the trades.

HERE IS MY MID WEEK UPDATE…….

Take note of the red flag news we have scheduled on the CAD this week as we all waiting to see what the Bank of Canada will do tomorrow with the interest rates again.

It’s a pity……as some of the CAD pairs are hitting key level this morning already tempting us to trade them.

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1) Euro Dollar on the DAILY chart:

Notes:

Currently sitting just under the cluster of EMA`S at 1.1809.

The Head and Shoulder pattern I showed you two weeks ago is still in play……also looks like we trapped in a triangle on the daily too.

If we break the triangle to the downside I will look to short to the  MS1 pivot at 1.1656 where after I will re look for support to long again.

The neckline for the head and shoulder pattern is at 1.1700/1656 so that need to break first if we want to trade the pattern to the upside.

Wednesday`s notes:

Still same outlook as above.

Also keep an eye on the negative correlated Dollar/CHF…..the chart looks cleaner at the moment and we hitting resistance levels at 0.9930 and 0.9952 where I will re look to counter short from.

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2) Euro JPY on the 4 hour chart:

Currently I have an Earth and Sky long zone between 132.96 and 132.34 with areas to keep an eye on at the 38.2 fib at 133.25 and 132.95 and 132.51 support areas where after I will re look to long this pair again.

Possible counter shorts at 134.19 and 134.97  resistance levels.

Notes:

We opened with a GAP this morning and by the looks of it its closing this morning already.

Wait for confirmation before you just jump in with a long.

Wednesday`s notes:

We had a nice long set up from the original 38.2 fib at 133.25 that gave us a good run but we hitting now resistance areas so I will be looking for roadblocks at 134.50 and 135.00 for possible counter shorts.

Remember we made new highs so follow price with you fib to get the adjusted Earth and Sky short zone.

Will re look to long again from the 38.2 fib, weekly main pivot and 55 EMA at 133.38 once we get there.

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3) Euro GBP on the DAILY chart :

Notes:

The 4 hour direction Indi is all mixed up……the daily direction Indi is also all mixed up with the directions this morning.

I will however look for possible short set ups from the 0.9000 resistance level and possible long set ups from the daily 200 EMA at 0.8820 level again this week.

I am still in my short I took last week and waiting for possible profit take at 0.8820 area.

Wednesday`s notes:

Cutting the EMA`S to the upside….then to the downside this week. The plan is still the same as above.

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 4) GBP Dollar on the 4 hour  chart:

Currently I have an Earth and Sky short zone between 1.3209 and 1.3258 with areas to keep an eye on at the 1.3209 and 1.3230 resistance area where after I will re look to short this pair again.

Possible counter longs at 1.3083 support levels.

Notes:

If we break the earth and sky short zone to the upside for some reason…..then I will re look for resistance at 1.3310 for possible shorts again as we have the WR1 pivot and last week’s high in the same area.

Wednesday`s notes:

We had a super M 2 short from the 50% fib and EMA`s at 1.3204 that gave us plenty of pips. Price dropped over 100 pips but we had now a pullback….I will re look for price to find resistance at the roadblock at 1.3204 where I will once again look to short from if it holds.

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5) GBP JPY on the 4 hour chart:

Currently I have an Earth and Sky long zone between 149.13 and 148.45 with areas to keep an eye on at the 38.2 fib at 149.45 and 149.13 and 148.85 and 148.65 support areas where after I will re look to long this pair again.

Possible counter shorts 150.50 and 151.00 and 151.36 resistance level.

Notes:

We opened with a little GAP this morning and we know by now that 90% of the time GAPS do close again so look out for that.

Wednesday`s notes:

This one came down to the 50% fib we had at 149.13 and burned here immediately before we had a bullish move. If you still in a long take note…we hitting now last week’s high area at 150.50 so possible roadblock and profit take area.

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6) Aussie Dollar on the DAILY chart:

Notes:

Still the same as last week.

The 4 hour direction Indi is all mixed up……the daily direction Indi is also all mixed up with the directions this morning.

In the last week of September price broke a big support level to the downside and dropped down deep.

My plan is to re look for longs from the support level at the daily 200 EMA at 0.7745 or the MS1 pivot at 0.7713 and possible shorts again from the daily 55 EMA at 0.7866 and 0.7900 resistance levels.

Wednesday`s notes:

This one dropped like a stone with the news we had. We broke the WS1 and WS2 pivot and daily 200 EMA to the downside. Follow price with your fib to get the adjusted trading zone.

I will re look for shorts from 0.7744 where we have the daily 200 EMA or 0.7777 where we have the WR1 pivot ( now resistance) or at 0.7813 in the new earth and sky trading short zone.

Possible support at the WR3 pivot coming up at 0.7693 for possible counter longs if we find support.

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7) Aussie JPY on the 4 hour chart:

Currently I have an Earth and Sky long zone between 88.42 and 88.10 with areas to keep an eye on at the 38.2 fib at 88.57 and 88.35 and 88.18 support areas where after I will re look to long this pair again.

Possible counter shorts 89.07 and 89.47 resistance level.

Notes:

We opened with a GAP this morning and we know by now that 90% of the time GAPS do close again so look out for that.

Wednesday`s notes:

This one followed the Aussie/Dollar as they are correlated. We dropped past the long zone after the news and broke the 4 hour 200 EMA too…..so possible M2 shorts from 88.07 and 88.37 maybe on the cards

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8) Dollar JPY on the 4 hour chart:

Currently I have an Earth and Sky long zone between  112.89 and 112.29 with areas to keep an eye on the 38.2 fib at 113.18 and 112.72 and 112.46 support areas where after I will look to long this pair.

Possible counter shorts at 114.10 and 114.87 resistance levels.

Notes:

We opened with a GAP this morning and we know by now that 90% of the time GAPS do close again so look out for that.

Wednesday`s notes:

This one had a nice correction to the weekly main pivot at 113.28 and 38.2 fib where after we had a nice long set up that is currently hitting profit take areas at last week’s high.

I will re look to counter short from 114.50 and 114.87 if we get there.

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9) Dollar CAD on the DAILY chart:

Notes:

We had a triangle on this one that broke to the upside on Tuesday – it’s also an inverse head and shoulder pattern with the neckline at 1.2550 so possible pullback followed by a M2 long set up from this level if we find support here again.

Wednesday`s notes:

The cad made new highs on the 4 hour chart. It looks better now and we can fib the 4 hour for a earth and sky long zone. I have a zone between 1.2572 and 1.2512 with areas of support at 1.2572 and 1.2517 where I will re look to long from.

Possible counter short coming up as we hitting the WR1 pivot at 1.2700 – We have MACD divergence showing on the 4 hour so this is a warning sign that correction might be on its way.

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10) Dollar Index on the DAILY chart :

The inverse Head and Shoulder pattern I showed you over the last 2  weeks is still in play……also looks like we trapped in a triangle on the daily too.

If we break the triangle to the downside I will look to short to the  MS1 pivot at 91.48 where after I will re look for support to long again.

The neckline for the inverse head and shoulder pattern is at 94.00/14 so that needs to break first if we want to trade the pattern to the upside.

Wednesday`s notes:

Plan is still as above. Inverse neckline still holding price down at the moment.

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Regards

Pierre

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