Monday Morning Musketeers Outlook: 19 June 2017

by | Jun 20, 2017 | Forex Analysis

Good morning everyone.

I hope you are all well ?

Mr. Trump I just want to tell you – There is defiantly a thing called global warming……….I mean how can Scotland beat the Wallabies (Aussie rugby team) in their own back yard ?

SCOTLAND consigned the Wallabies to a humbling 24-19 Test defeat in Sydney on Saturday afternoon. A stunned Aussie crowd of 30,721 watched Scotland avenge two heartbreaking one – point losses to Australia in the past two years with a stirring victory.

Now what do you have to say about this game all my down under friends ?

Answer: Lets blame the referee 🙂

To all the Scotland members………… I am just pulling your leg……….so pleas dont throw me with black pudding !!!! 🙂

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The Spaghetti indicator:

No spaghetti for breakfast this morning as my indicator is giving me some trouble this morning so I need to re load the platform again so it might take a while.

I will give you an update later on today…..once I get it going again.

  • If you want to add the overbought and oversold areas to this Indi…..right click on the RS all Indi……then go to the RS All properties…….here we go to the levels tab…..then add the 8 and 13 and min 8 and min 13 line and click on OK.
  • Remember then to save a new template.

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Let’s have a quick Monday morning look at what is cooking in the Forex kitchen this morning.

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1) Euro Dollar on the DAILY chart:

MAIN TREND IS STILL LONG.

Last week we closed only plus 3 pips higher than the opening of last week….so I will stay on the daily chart.

Currently I have an Earth and Sky long zone between 1.1069 and 1.0954 with areas to keep an eye on at the 38.2 fib at 1.1124 as we have the monthly main pivot here, plus a 4 hour 200 EMA and if that breaks look at the 55 EMA at 1.1069 support areas where after I will re look to long this pair again.

Possible counter shorts at 1.1299 and 1.1396  levels.

……………………………………………………………….

2) Euro JPY on the 4 hour chart:

Currently I have an Earth and Sky long zone between 123.45 and 122.92 with areas to keep an eye on at the 38.2 fib at 123.71 as we have the weekly main pivot here plus 55 EMA and 123.36 and 123.00 support areas where after I will re look to long this pair again.

Possible counter shorts at 125.03 levels.

If we make new highs here follow price with your fib to get the adjusted trading zone for the week.

……………………………………………………………….

3) Euro GBP on the 4 hour chart :

MAIN TREND IS STILL LONG.

Last week we closed only min 19 pips lower than the opening of last week….so I will stay on the daily chart.

Currently I have an Earth and Sky long zone between 0.8623 and 0.8502 with areas to keep an eye on at the 38.2 fib at 0.8681 as we have some EMA`S here to give support…..and at 0.8623 areas where after I will re look to long this pair again.

Possible counter shorts at 0.8858 levels

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 4) GBP Dollar on the 4 hour chart:

Sitting on my hands for now. Last week we closed plus 36 pips higher than the opening. but it looks like we might be trapped in a triangle on the 4 hour chart.

Another possibility is that we might be ranging between the daily 200 EMA at 1.2826 and 1.2755 where we have the 4 hour 200 EMA.

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5) GBP JPY on the 4 hour  chart:

Sitting on my hands for now. The direction Indi is mixed on the daily but still short on the 4 hour chart. We have a 4 hour 200 EMA at 142.26 where we might find resistance but be careful with the GBP pairs this week.

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6) Aussie Dollar on the 4 hour  chart:

Currently I have an Earth and Sky long zone between 0.7578 and 0.7550 with areas to keep an eye on at the 0.7564 and 0.7558 areas where after I will re look to long this pair again.

Possible counter shorts at 0.7635 and 0.7662 levels

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7) Aussie JPY on the 4 hour  chart:

Currently I have an Earth and Sky long zone between 83.67 and 83.13 with areas to keep an eye on at the 83.53/43 and 83.25 areas where after I will re look to long this pair again.

Possible counter shorts at 85.00 and 85.34 levels

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8) Dollar JPY on the DAILY chart:

Main trend is still down….while the 200 EMA at 111.12 holds. Last week we closed plus 59 pips higher than the opening….that is why I fib the daily chart to get the zone.

Currently I have an Earth and Sky short zone between 111.61 and 113.01 with areas to keep an eye on at the 38.2 fib at the cluster EMA`S at 111.12 areas where after I will re look to short this pair again.

Possible counter longs at 109.27  levels

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9) Dollar CAD on the 4 hour chart:

Currently I have an Earth and Sky short zone between 1.3316 and 1.3392 with areas to keep an eye on at the 38.2 fib at 1.3280 as we also have the weekly main pivot here plus at 1.3325 and 1.3359 areas where after I will re look to short this pair again.

Possible counter longs at 1.3093 area

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10) Dollar Index on the Daily chart :

MAIN TREND IS STILL SHORT. Last week we closed only min 13 pips lower than the opening of last week and that is why I had to fib the daily chart to get a short zone as we are very flat on the 4 hour chart.

Currently I have an Earth and Sky short zone between 98.08 and 98.97  with areas to keep an eye on at the 97.69 (38.2 fib and the 4 hour 200 EMA and monthly main pivot ) and 98.09 resistance areas where after I will re look to short this index again.

Possible counter longs at 96.28 and 95.87

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I will be back tomorrow morning with a comprehensive Earth and Sky analysis for the rest of the week.

Regards

Pierre

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