Week ahead – EURUSD, EURCAD, GBPUSD

Lower range of the EURUSD pair was broken and open the door towards the 1.26 where I would suspect some buying power to be present. Before we get there I would expect some kind of retracement either back to 2730's or 2780's. One way or the other, I think we will see new extremes in the upcoming week.

 

With EURCAD I am going to wait and see what is going to happened at 1.28. If the reaction is strong and rapid, I am going to short this level targeting at least +3R.

 

Last pair on my watch list is GBPUSD. I see a 5750's as a best level to fade. On the other hand, GPBUSD tends to be tricky so it will all depends how it will gets there and what kind of reaction we are going to see.

 

Have a great trading week.

 

JK