Monday Morning Forex Trading Ideas

by | Jun 13, 2016 | Forex Analysis

Pierres Monday Morning Quickie:

Forex Trading IdeasPierre du Plessis does his detailed Earth & Sky forex System analysis on a Tuesday, but here is a quick heads up as to what is on his radar to trade the week ahead:

Good morning everyone.

Not the best weekend for South African rugby as they lost against Ireland on South African turf !!

Better luck next time boys 🙂

Life goes on and we need to make some pips this week so let’s have a quick market overview and see if we can spot some early set ups for the week:

What do I see:

1) Euro Index on the daily and 4 hour chart:

MMMM……the direction indicator is mixed on the daily and 4 hour chart. Currently we sitting on the daily 200 EMA and monthly main pivot at 98.71 that can give the support we need before looking for longs……Problem is we have the 4 hour 200 EMA and weekly main pivot at 98.94 that can limit this move…..PLUS it looks like we trapped in a triangle on this one.

2) Euro/Dollar on the daily and 4 hour chart:

MMMM…..this one broke loads of EMA`s late last week to the downside. We broke the daily 55 and 4 hour 200 EMA. So 2 things can happen here…….One we might get a M2 short set up from 1.1276 and 1.1296 this week or if we break the weekly main pivot at 1.1296 to the upside……a possible M2 long set up.

3) Euro/JPY on the 4 hour chart:

Currently I have a short Earth and Sky zone between 120.86 and 121.79 with possible entry areas at 120.86 and 121.31 and at 121.74. If we make new lows this morning follow price with the fib to get an adjusted trading zone

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4) Euro/GBP on the 4 hour chart:

Currently I have a long Earth and Sky zone between 0.7849 and 0.7799 with possible entry areas at 0.7849 and 0.7824 and 0.7808. If we make new high this morning follow price with the fib to get an adjusted trading zone.

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5)GBP/Dollar on the 4 hour chart:

Currently I have a short Earth and Sky zone between 1.4411 and 1.4474 with possible entry areas at the 38.2 fib at 1.4352 and 1.4411 and 1.4432/46. If we make new lows this morning follow price with the fib to get an adjusted trading zone.

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6) GBP/JPY on the 4 hour chart:

Currently I have a short Earth and Sky zone between 154.00 and 155.96 with possible entry areas at the 38.2 fib at 153.08 and 154.00 and 155.48. If we make new lows this morning follow price with the fib to get an adjusted trading zone.

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7) Aussie/Dollar on the 4hour chart:

Currently I have a long Earth and Sky zone between 0.7409 and 0.7386 with possible entry areas at 0.7386 and 0.7380 and 0.7362

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8) Aussie/JPY on the 4 hour chart:

Currently I have a short Earth and Sky zone between 79.20 and 79.76 with possible entry areas at the 38.2 fib at 78.94 and at 79.25. If we make new lows this morning follow price with the fib to get an adjusted trading zone. This one is currently hitting a support level if you look at the daily chart as we have the MS1 pivot and previous support/resistance here at 78.10

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9) Dollar/JPY on the 4 hour chart:

Currently I have a short Earth and Sky zone between 106.77 and 107.32 with possible entries at 106.82 and 107.05 and 107.45.If we make new lows this morning follow price with the fib to get an adjusted trading zone.

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10) Dollar/CAD on the 4 hour chart:

Currently I have a short Earth and Sky zone between 1.2818 and 1.2900 with possible entries at 1.2806/18 and 1.2845.

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11) Dollar Index on 4 hour chart:

This one had a little fight back last week but got stopped this morning by the 4 hour 200 EMA at 94.68. We have the 55 EMA at 94.80 too……so while this level holds as resistance my bias will be to look for shorts. Possible triangle on this one too so take note

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That’s that…………….

I will be back tomorrow morning with a comprehensive Earth and Sky Analysis

Regards

Pierre

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Related posts:

Pierre`s Monday Morning Quicky Analysis: 14 November 2016 Quick Monday Morning Overview, 8 May 2017 Pierre`s Monday Morning FX Market Overview, 10 April 2017 Pierres Earth & Sky Monday Morning Analysis, 20th March

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