W33 - EURJPY dr 100

OVERVIEW

equal in:

• EURAUD
  
• EURCAD

weakness of EUR in:

• EURCHF
  
• EURJPY
• EURNZD
  
• EURUSD

strength of EUR in:

• EURGBP

OVERALL FOCUS ON EUR: buy this currency
OVERALL FOCUS ON JPY: sell this currency
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WEEKLY:

We got a perfect overlap of the correction levels of the almost finished sequence with the overall correction level. Since it corrected below the point of B, there is a chance to activate a larger and much stronger bullish sequence.

2h:

Finished primary sequence and finished correction with a good bullish rally, unfortunately without structure. If the opposite correction levels (blue) don't hold, the primary correction area could be another area of interest.

1h:

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WHAT DO WE WANT?
We'd like a reentry at a correction area. We have to see if bearish structure emerges on the way to the secondary correction area (blue). If it doesn't hold, the primary correction zone (green) could certainly hold it. We should bear in mind that the white line and the red lines represents correction areas, so we got some good overlap here, no matter which one we trade.
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DECISIONS
risk vs. profit: (-- / - / 0 / + / ++): 0
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Neither the analysis described here, nor my updates are financial advice and should not be treated as such. They merely represent my ideas by applying the system I learnt from Stefan Kassing and are my interpretation of the system with certain tweaks.
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