{"id":2186,"date":"2017-05-08T11:28:22","date_gmt":"2017-05-08T10:28:22","guid":{"rendered":"https:\/\/www.forexmentorpro.com\/blog\/?p=2186"},"modified":"2024-05-24T22:48:42","modified_gmt":"2024-05-24T21:48:42","slug":"quick-monday-morning-overview-8-may-2017","status":"publish","type":"post","link":"https:\/\/www.forexmentorpro.com\/blog\/quick-monday-morning-overview-8-may-2017\/","title":{"rendered":"Quick Monday Morning Overview, 8 May 2017"},"content":{"rendered":"<p>Good morning everyone.<\/p>\n<p>What&#8217;s up and whets down this morning?<\/p>\n<p>Well Marc is down under in Perth, Australia on holiday&#8230;&#8230;&#8230;&#8230;&#8230;..and Fotis, Judith and I am up here &#8211; on the other side of the equator working \ud83d\ude41<\/p>\n<p>But dont fear when the three musketeers are near&#8230;&#8230;&#8230;&#8230;&#8230;.<\/p>\n<p>&nbsp;<\/p>\n<p>Let&#8217;s have a quick look at the market.<\/p>\n<p><strong><u>Monday morning inspiration: <\/u><\/strong><\/p>\n<p><strong>Earth and Sky \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0= \u00a0\u00a0<img decoding=\"async\" class=\"aligncenter size-medium wp-image-2187\" src=\"https:\/\/www.forexmentorpro.com\/blog\/wp-content\/uploads\/2017\/05\/quotescover-JPG-21-300x300.jpg\" alt=\"\" width=\"300\" height=\"300\" title=\"\" srcset=\"https:\/\/www.forexmentorpro.com\/blog\/wp-content\/uploads\/2017\/05\/quotescover-JPG-21-300x300.jpg 300w, https:\/\/www.forexmentorpro.com\/blog\/wp-content\/uploads\/2017\/05\/quotescover-JPG-21-150x150.jpg 150w, https:\/\/www.forexmentorpro.com\/blog\/wp-content\/uploads\/2017\/05\/quotescover-JPG-21-1024x1024.jpg 1024w, https:\/\/www.forexmentorpro.com\/blog\/wp-content\/uploads\/2017\/05\/quotescover-JPG-21.jpg 1080w, https:\/\/www.forexmentorpro.com\/blog\/wp-content\/uploads\/2017\/05\/quotescover-JPG-21-120x120.jpg 120w, https:\/\/www.forexmentorpro.com\/blog\/wp-content\/uploads\/2017\/05\/quotescover-JPG-21-65x65.jpg 65w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><br \/>\n<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p><strong><u>The Spaghetti indicator:<\/u><\/strong><\/p>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-29649 size-full\" src=\"https:\/\/www.forexmentorpro.com\/members-area\/wp-content\/uploads\/2017\/05\/flat.png\" alt=\"\" width=\"873\" height=\"186\" title=\"\"><\/p>\n<p>All the currencies are flat this morning so I will wait for the Indi to show me later on whats overbought and whats oversold and then sift my focus to the charts to spot potential set ups.<\/p>\n<ul>\n<li>\n<blockquote><p>If you want to add the overbought and oversold areas to this Indi&#8230;..right click on the RS all Indi&#8230;&#8230;then go to the RS All properties&#8230;&#8230;.here we go to the levels tab&#8230;..then add the 8 and 13 and min 8 and min 13 line and click on OK.<\/p><\/blockquote>\n<\/li>\n<li>\n<blockquote><p>Remember then to save a new template.<\/p><\/blockquote>\n<\/li>\n<\/ul>\n<p><strong>&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;..<\/strong><\/p>\n<p><strong>Let&#8217;s have a quick Monday morning look at what is cooking in the Forex kitchen this morning.<\/strong><\/p>\n<p><strong>&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;<\/strong><\/p>\n<p><strong><u>1) Euro Dollar on the 4 hour chart:<\/u><\/strong><\/p>\n<p>Currently I have an\u00a0<strong>Earth and Sky long zone<\/strong>\u00a0between 1.0945 and 1.0910 with areas to keep an eye on at the 1.0945 and 1.0927 and 1.0910 as support areas where after I will re look to long this pair again.<\/p>\n<p>Possible counter shorts at 1.1028 and 1.1050<\/p>\n<p>If we make new highs without the correction&#8230;.follow price with your fib to get the adjusted trading zone for the week.<\/p>\n<p><strong>&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;.<\/strong><\/p>\n<p><strong><u>2) Euro JPY on the 4 hour chart:<\/u><\/strong><\/p>\n<p>Currently I have an\u00a0<strong>Earth and Sky long zone<\/strong>\u00a0between 122.80 and 122.05 with areas to keep an eye on at the 122.80 and 122.42 and 122.05 support areas where after I will re look to long this pair again.<\/p>\n<p>Possible counter shorts at 124.77 and 124.50m and 126.00<\/p>\n<p>If we make new highs without the correction&#8230;.follow price with your fib to get the adjusted trading zone for the week.<\/p>\n<p><strong>&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;.<\/strong><\/p>\n<p><strong><u>3) Euro GBP on the DAILY chart :<\/u><\/strong><\/p>\n<p>The 4 hour direction indicator is all mixed up&#8230;..so that is why I had to fib the daily chart.<\/p>\n<p>Currently I have an\u00a0<strong>Earth and Sky short zone<\/strong>\u00a0between 0.8450 and 0.8520 with areas to keep an eye on at the 0.8504 and 0.85514 resistance areas where after I will re look to short this pair again.<\/p>\n<p>Possible counter longs at 0.8298<\/p>\n<p>If we make new lows without the correction&#8230;.follow price with your fib to get the adjusted trading zone for the week.<\/p>\n<p><strong>&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;.<\/strong><\/p>\n<p><strong><u>\u00a04) GBP Dollar on the 4 hour chart:<\/u><\/strong><\/p>\n<p>Currently I have an\u00a0<strong>Earth and Sky long zone<\/strong>\u00a0between 1.2908 and 1.2869 with areas to keep an eye on at the 1.2908 and 1.2888 support areas where after I will re look to long this pair again.<\/p>\n<p>Possible counter shorts at 1.3000 and 1.3026 l<\/p>\n<p>If we make new highs without the correction&#8230;.follow price with your fib to get the adjusted trading zone for the week.<\/p>\n<p><strong>&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;.<\/strong><\/p>\n<p><strong><u>5) GBP JPY on the 4 hour\u00a0 chart:<\/u><\/strong><\/p>\n<p>Currently I have an\u00a0<strong>Earth and Sky long zone<\/strong>\u00a0between 145.19 and 144.50 with areas to keep an eye on at the 145.00 and 144.84 and 144.48 support areas where after I will re look to long this pair again.<\/p>\n<p>Possible counter short at 147.00 and 147.15.<\/p>\n<p>If we make new highs without the correction&#8230;.follow price with your fib to get the adjusted trading zone for the week.<\/p>\n<p><strong>&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;<\/strong><\/p>\n<p><strong><u>6) Aussie Dollar on the 4 hour chart:<\/u><\/strong><\/p>\n<p>Currently I have an\u00a0<strong>Earth and Sky short zone<\/strong>\u00a0between 0.7462 and 0.7510 with areas to keep an eye on at the 0.7462 and 0.7486 and 0.7510 resistance areas where after I will re look to short this pair again.<\/p>\n<p>Possible counter long at 0.7336 and 0.7300<\/p>\n<p>If we make new lows without the correction&#8230;.follow price with your fib to get the adjusted trading zone for the week.<\/p>\n<p><strong>&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;<\/strong><\/p>\n<p><strong><u>7) Aussie JPY on the 4 hour and daily chart:<\/u><\/strong><\/p>\n<p>Last week we only closed plus 24 pips higher than the opening of last week&#8230;&#8230;.The 4 hour direction Indi is mixed but still short on the daily chart&#8230;&#8230;Possible short setup at the 200 EMA`S at 83.69\/75 but be careful with this one.<\/p>\n<p><strong>&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;<\/strong><\/p>\n<p><strong><u>8) Dollar JPY on the 4 hour chart:<\/u><\/strong><\/p>\n<p>Currently I have an\u00a0<strong>Earth and Sky long zone<\/strong>\u00a0between 112.12 and 111.65 with areas to keep an eye on at the 112.00 and 111.88 and 111.60 support areas where after I will re look to long this pair again.<\/p>\n<p>Possible counter shorts\u00a0 at 113.05 and 113.38<\/p>\n<p>If we make new highs without the correction&#8230;.follow price with your fib to get the adjusted trading zone for the week.<\/p>\n<p><strong>&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;<\/strong><\/p>\n<p><strong><u>9) Dollar CAD on the DAILY chart:<\/u><\/strong><\/p>\n<p>Currently price camping out at the 4 hour 55 EMA at 1.3656 and last week&#8217;s low area so possible longs set ups can be on the cards&#8230;&#8230;however, be careful &#8211; if this level breaks to the downside we can drop back to the monthly main pivot and mother in law 200 EMA waiting at 1.3500 where I will re look to long this pair!!!<\/p>\n<p><strong>&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;<\/strong><\/p>\n<p><strong><u>10) Dollar Index on the 4 hour chart :<\/u><\/strong><\/p>\n<p>Currently I have an\u00a0<strong>Earth and Sky short zone<\/strong>\u00a0between 98.96 and 99.20 with areas to keep an eye on at the 99.00 and 99.04 resistance areas where after I will re look to short this index again.<\/p>\n<p>Possible counter longs at 98.33 and 97.90<\/p>\n<p>If we make new lows without the correction&#8230;.follow price with your fib to get the adjusted trading zone for the week.<\/p>\n<p><strong>&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;<\/strong><\/p>\n<p>Well that&#8217;s that for my Monday Morning Quick overview.<\/p>\n<p><strong><em>I will be back tomorrow morning with a comprehensive Earth and Sky analysis for the rest of the week.<\/em><\/strong><\/p>\n<p>Regards<\/p>\n<p>Pierre<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning everyone. What&#8217;s up and whets down this morning? Well Marc is down under in Perth, Australia on holiday&#8230;&#8230;&#8230;&#8230;&#8230;..and Fotis, Judith and I am up here &#8211; on the other side of the equator working \ud83d\ude41 But dont fear when the three musketeers are near&#8230;&#8230;&#8230;&#8230;&#8230;. &nbsp; Let&#8217;s have a quick look at the market. [&hellip;]<\/p>\n","protected":false},"author":35,"featured_media":772,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","rank_math_focus_keyword":"","rank_math_description":"Check out the Quick Monday Morning Overview from May 8, on Forex Mentor Pro. Get concise forex market analysis and start your week informed and prepared.","rank_math_title":"","footnotes":""},"categories":[2],"tags":[],"class_list":["post-2186","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-forex-analysis"],"_links":{"self":[{"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/posts\/2186","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/users\/35"}],"replies":[{"embeddable":true,"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/comments?post=2186"}],"version-history":[{"count":1,"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/posts\/2186\/revisions"}],"predecessor-version":[{"id":219561,"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/posts\/2186\/revisions\/219561"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/media\/772"}],"wp:attachment":[{"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/media?parent=2186"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/categories?post=2186"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/tags?post=2186"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}