Week ahead – EURUSD

EURUSD has moved 330pips in the last two days (remember that +5RR setup – well played for those who followed). In terms of price extensions and further projections, I think it still has some room upward up to 3450's. From there I would look for shorts back to 1.33 level. There might be a minor slowdown at 3370's. As of right now, I am expecting a slower start with higher probability for the downside correction. As LONG as the price can stay above 3250's, I believe we are still in a bullish tone and we are going to see new higher highs.

Manage your risk, press your winners and have a great trading week.