Pierre`s Monday Morning Quickie, FX Market Overview

by | Apr 3, 2017 | Forex Analysis

Good morning everyone.

I hope you all had a stunning, super, cool weekend.

We did. My little boy played well over the weekend and I am very proud of him.

Yesterday the teams took a breather but they are back on the fields again this morning. Twenty schools – Forty teams – three rugby fields !! All of them under 14 and 15 year old boys !!!

When last did you try and keep a 15 year old`s tummy full ? Now put 800 of them together………… Mmmm…..that in my book is a huge task itself !!

dad

Speaking of food…….lets have a look at some spaghetti.

The Spaghetti indicator:

Most currencies are flat this morning except fort  the GBP so I will be keeping an eye on them for possible trade setups.

q

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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 4 hour chart:

MMMM…….We broke the 4 hour 200 EMA and the daily 55 EMA and new monthly main pivot to the downside. Three ways to play it.

* Possible M2 short from the 1.0687/99 levels.

* If that breaks to the upside possible shorts from the 4 hour 55 EMA at 1.0747

* if that breaks to the upside possible shorts from the daily 200 EMA at 1.0796

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2) Euro JPY on the 4 hour chart:

Currently I have an Earth and Sky short zone between 119.53 and 119.99 with areas to keep an eye on at the 119.82 and 119.94 areas where after I will re look to short this pair again.

Possible counter long at 118.07 areas.

Currently in no man`s land.

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4) Euro GBP on the 4 hour  chart :

Currently I have an Earth and Sky short zone between 0.8610 and 0.8673 levels with areas to keep an eye on at the 0.8608 and 0.8616 and 0.8622 areas for a resistance area where after I will re look to short this pair.

We currently in at a roadblock area as price camps out at the daily 200 EMA at 0.8516 so possible long can set up…..otherwise if we break to the downside, I will re look at 0.8417 for possible long set ups.

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 5) GBP Dollar on the 4 hour chart:

Currently in no man’s land. I will look for a possible long from the 55 EMA at 1.2470 otherwise the 1.2407 support level will be key as we have loads happening here. We have a 55 and 200 EMA and weekly pivot and psychological level.

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6) GBP JPY on the 4 hour  chart:

Currently we hitting a key resistance level here at the 200 and 55 EMA at 139.71 and 139.93. MACD is rolling over and stochastic is overbought so a possible short set up might be on its way.

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7) Aussie Dollar on the 4 hour chart:

I don’t like this pair at the moment. Over the last three weeks it’s not respecting the 55 and 200 EMA`S. Last week we broke the triangle I showed you to the downside but we might find support this week at the 0.7585 levels where we have the WS1 pivot and last week’s low.

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8) Aussie JPY on the 4 hour and daily chart:

Looks like we might be ranging between the EMA`S and pivot point at 85.85 and the weekly pivot point and 200 EMA at 83.88 so look for possible bounce trades setting up.

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9) Dollar JPY on the DAILY chart:

If we look at the daily chart we can see how we broke the 55 and 200 EMA to the downside but currently we sitting above them again at 111.19. If we find support here we might have a long setup that can take us again to the EMA`S waiting at 112.63/76 where I will re look to short.

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10) Dollar CAD on the DAILY chart:

Trapped in that triangle I showed you last week already so we need a breakout first before I will touch this one.

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11) Dollar Index on the 4 hour chart :

Currently we camping out at a key resistance level as we have the 4 hour and daily 55 EMA`S keeping price down at 100.56/64 this morning. While these two EMA`S holds as resistance – possible short set ups can be on the cards

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Well that’s that for my Monday Morning Quick overview.

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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