Good morning Forex junkies.
What’s up…….what’s down?
Mmmmmmm………we had two wild wild horses this week so far that broke triangles to the one side …..then pulled back and gave the M2 trades the middle finger as it broke the triangle then to the other side……..
But don’t fear when Pierre is near…………we have some nice trades setting up right now so look out for them
Are you ready for a Wednesday morning Quickie? 🙂
1) Euro Index on 4 hour chart:
I am keeping an eye on the WR1 pivot at 100.78 to short from back to 100.45 and 100.20.
2) Euro/Dollar on the 4 hour chart:
We are in the Earth and Sky zone but sitting between the 55 and 200 EMA`S with no volume/momentum to take it higher…….bit concerning that it didn’t follow the correlated Euro Index
3) Euro/JPY on the 4 hour chart:
This one gave the head and shoulder the middle finger and broke to the upside…..even taking the Earth and Sky zone out……. I am keeping an eye on the WR1 pivot at 116.26 to short from back to 115.56 and 115.27 and 115.00
4) EURO/GBP on the 4 hour chart:
This one broke that bear trend line to the upside but slammed right into the WR1 pivot at 0.8530 where it burned again………so possible M2 longs on the cards from the 200 and 55 EMA at 0.8467/60…….but be careful with this one…….also have a look what the GBP/Dollar is doing as its negative correlated with this pair.
5) GBP/Dollar on the 4 hour chart:
Currently we sitting on the WS1 pivot at 1.3115. We have a bear trend line in place so I will re look to short from the two 55 EMA`S at 1.3286 just under the trend line and 50% fib area.
6) GBP/JPY on 4 hour chart:
Wild wild hors this one. We broke the triangle to the downside….then pulled back and this morning we broke the triangle to the upside so wild indeed – I will re look to short from the WR1 pivot at 138.04 and 138.70 areas back down to 136.45
7) Aussie/Dollar on the 4 hour chart:
Sitting at key support area at the WS1 pivot and 200 EMA at 0.7470…….possible counter long can set up back to 0.7568 where we have road blocks starting.
8) Aussie/JPY on the 4 hour chart:
This one found support at the WS1 pivot already at 76.52 and gave some good pips with a counter long………we are getting closer and closer to all those EMA`S just under the 50% fib so look out for resistance.
9) Dollar/JPY on the 4 hour chart:
This one also wild wild wild…………we broke the triangle to the downside……then we had the pullback to all the EMA`S for a possible M2 short set up……but price gave that the middle finger as we broke to the upside again……….Now I will re look to short from the WR1 pivot at 103.97 and 104.25 area.
10) Dollar/CAD on the 4 hour chart:
This one broke the WR1 pivot at 1.3140 to the upside a little but we have MACDEE divergence and stochastic divergence that’s overbought so possible counter shorts on the cards back down to 1.3065 where we have a 200 EMA waiting…..if that breaks next line will be 1.3000
11) Dollar Index on 4 hour chart:
This one broke the triangle to the upside……and is now pulling back to the 95.41 and 95.25 area for possible M2 long set ups…..I however will only look to short from 95.92 and 96.25 area……or to buy at 94.50
12) CAD/JPY on 4 hour chart:
This one gave a nice counter long from the WS1 pivot at 77.79 and we on our way to main profit take at 78.76 where we have a mother in law waiting…….possible short set ups from here or at the 50% fib at 78.96.
13) Euro/CAD on the 4 hour chart:
This one broke the WR1 pivot at 1.4772 to the upside a little but we have MACDEE divergence and overbought stochastic so possible counter shorts on the cards back down to 1.4675 and 1.4620 where we have a road block again.
Well that is that