Good evening.
Just thought I'd begin to add a slightly longer-term perspectve on the few instruments we are interested in.
The main player that sticks out to me most is the potential down-side on EURJPY.
She has been a very tricky lady of late getting pulled about by both EURUSD and USDJPY, which as we know, tend to travel in opposite directions.
The CCI on the 4hr chart attached has crossed, the 20ema is below the 50sma there has been a lower high created since continuous higher highs in price and lower highs on the CCI.
Should this pair start to power up through 168.00 then I would have my reservations. But as it stands right now a 40 pip stop for a potential 300 pip play back to the daily 50sma at 165.00 if it starts to turn. Could be a 7/1 shot !!
My main concern is obviously the recent higher lows, which could be indicative of just a bounce back off the daily 20ema but well worth keeping ones eyes on.
That's the best 'value' opportunity I see. Not the safest but with a risk/reward like that I am tempted. Every day we look at risking 20 to make 30, therefore we should risk 30 to make 45 and 40 to make 60. This far outweighs these 'average' opportunities. I'll be watching for a turn-around on the shorter term time-frame before getting excited, but there's potential.
I'll try to post somethng along these lines each evening from now on if you wish. Just reply to the post outlining your interest and I will happily oblige.
'Guten abent' as they say in Frankfurt.
