Good morning everyone.

Hope you are well and that you had a super weekend.

Well its Monday….so new weekly pivots plus we will have new monthly pivots later on this week that can change some of the football fields for us as we had big monthly moves on some pairs….so we need to keep an eye on that.

The dollar is taking a hammering at the moment and here in my home country everyone is so happy that the South African rand picked up its head against the dollar….problem is ( and the man on the street doesnt understand this) its not the rand that is lifting its head……….its the dollar that lost its head !!

 

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Webinar registrations:

TRY to get to the live training sessions, we are able to explain our plans in much greater detail and those who can attend have a better chance of having a profitable week. If you can’t make it then make sure to check out the recording and the notes. As ever some of the trades that we showed in the last session fired and gave pips once more so don’t miss out!

Please register for this week’s Forex Mentor Pro Live Training on Tuesday, 30th January 2018 at 11:00 AM GMT (London Time) at:

https://attendee.gotowebinar.com/register/4464598139298644226

Live training session with Marc Walton. Pierre du Plessis & Judith Waker. The team will assess fundamentals, M2 Earth & Sky & the trigger system for potential trades. Followed by a Q & A session

After registering, you will receive a confirmation email containing information about joining the webinar.

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Spaghetti Indicator:

The Daily chart :

The Spaghetti Indi is overbought on the GBP and CHF currencies and oversold on the CAD and NZD and USD currencies this morning.

So let’s keep an eye on them for possible trade set ups from areas of interest (multiple reasons levels areas)

  • 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 look at the Monday morning analysis. 

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1) Euro Index on the DAILY chart:

Last week we closed only min 2pips lower than the opening…..so we can’t fib the 4 hour to get a long zone – we have to fib the daily chart.

Currently I have an Earth and Sky long zone between 107.99 and 107.27 with areas to keep an eye on the 38.2 fib at 108.33and 107.99 and 107.57 support areas where after I will re look to long this index again.

Possible counter shorts at the MR 2 pivot at 109.45.

Notes:

Currently we sitting on support at the 4 hour 55 EMA and MR1 pivot at 108.79 – however I will prefer a bigger correction on this one.

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2) Euro Dollar on the 4 hour chart:

Currently I have an Earth and Sky long zone between 1.2376 and 1.2295 with areas to keep an eye on the 1.2363 and 1.2313 support areas where after I will re look to long this pair again.

Possible counter shorts from the 1.2572 resistance area.

Notes:

While the 4 hour 55 EMA at 1.2313 holds….my bias will be to look for long set ups.

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3) Euro JPY on the DAILY chart:

Last week we closed min 67 pips lower than the opening…..so we can’t fib the 4 hour to get a long zone – we have to fib the daily chart as we to flat on the 4 hour chart..

Currently I have an Earth and Sky long zone between 134.33 and 133.18 with areas to keep an eye on the 38.2 fib at 134.88 and 134.67/31 support areas where after I will re look to long this pair again.

Possible counter shorts from the 136.41 and 136.63 resistance area.

Notes:

Wait for good solid support first.

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4) Euro GBP on the 4 hour chart :

Currently I have an Earth and Sky short zone between 0.8760 and 0.8797 with areas to keep an eye on the 0.8786 and 0.8797 resistance areas where after I will re look to short this pair again.

Possible counter longs from the 0.8706 and 0.8687 support area.

Notes:

If we break for some reason the 4 hour 55 EMA to the upside….re look at 0.8832 at the roadblock area we have at the daily and 4 hour 200 EMA`S  for a possible short set up.

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 5) GBP Dollar on the 4 hour chart:

Currently I have an Earth and Sky long zone between 1.4103 and 1.3979 with areas to keep an eye on the 1.4096 and 1.4015 support areas where after I will re look to long this pair again.

Possible counter shorts at 1.4381 resistance areas.

Notes:

While the 4 hour 55 EMA holds at 1.4015 my bias will be to look for long set ups.

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6) GBP JPY on the WEEKLY chart:

Notes:

Price bumping the weekly 200 EMA at 154.16 this morning again. This will be a key level to keep an eye on. Last week we closed with a doji at these important resistance EMA`S so warning that we must take note of it. We have MACD divergence so another warning sign that a possible correction can be on the cards.

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7) Aussie Dollar on the 4 hour chart:

Currently I have an Earth and Sky long  zone between 0.8046 and 0.8001 with areas to keep an eye on the 0.8051 and 0.8021 support areas where after I will re look to long this pair again.

Possible counter shorts at 0.8136 and 0.8182 resistance areas.

Notes:

Currently in no man`s land.

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8) Aussie JPY on the DAILY chart:

Last week we closed min 43 pips lower than the opening…..however the main trend is still long so we can’t fib the 4 hour but have to fib the daily chart for the long zone.

Currently I have an Earth and Sky long zone between 86.80 and 85.66 with areas to keep an eye on the 38.2 fib at 87.34  and 86.80 and 86.60 support areas where after I will re look to long this pair again.

Possible counter shorts at 89.02 and 89.17 resistance level.

Notes:

While the daily 200 EMA holds at 86.60 my bias will be to look for long set ups.

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9) Dollar JPY on the 4 hour chart:

Currently I have an Earth and Sky short zone between 109.80 and 110.56 with areas to keep an eye on the 38.2 fib at 109.40 and 109.80 and 110.00 resistance areas where after I will re look to short this pair again.

Possible counter longs at 107.49 support areas.

Notes:

If we make new lower lows without the correction we want….follow price with your fib to get the adjusted trading zone for the week.

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10) Dollar CAD on the 4 hour chart:

Currently I have an Earth and Sky short zone between 1.2395 and 1.2451 with areas to keep an eye on the 38.2 fib at 1.2364 and 1.2396 areas where after I will re look to short this pair again.

Possible counter longs at 1.2231

Notes:

Keep an eye on 38.2 fib at 1.2368 this week too.

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11) Dollar SGD on the 4 hour chart:

Currently I have an Earth and Sky short zone between 1.3116 and 1.3170 with areas to keep an eye on the 38.2 fib at 1.3099 and 1.3117 and 1.3150 resistance areas where after I will re look to short this pair again.

Possible counter longs at the WS1 pivot at 1.2974 support area

Notes:

Hitting the 38.2 fib this morning….I will prefer if we can get to the 4 hour 34 or 55 EMA`s where I will start looking for short set ups again.

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12) Dollar CHF on the 4 hour chart:

Currently I have an Earth and Sky short zone between 0.9465 and 0.9553 with areas to keep an eye on the 38.2 fib at 0.9422 and 0.9458 and 0.9513 resistance areas where after I will re look to short this pair again.

Possible counter longs at WS1 pivot at 0.9204

Notes:

We have a roadblock area at the 38.2 fib this week first but I will prefer a bigger correction on this index to at least the 34 or 55 EMA levels..

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13) Dollar Index on the 4 hour chart:

Currently I have an Earth and Sky short zone between 89.56 and 90.13 with areas to keep an eye on the 38.2 fib at 89.38 and 89.56 and 89.94 resistance areas where after I will re look to short this pair again.

Possible counter longs at the 88.05 support levels.

Notes:

We have a roadblock area at the 38.2 fib this week first but I will prefer a bigger correction on this index to at least the 34 or 55 EMA levels..

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Regards

Pierre