Week ahead – EURUSD, USDCHF, GBPUSD

Not much of a change on the EURUSD front from the last week (trading plan is still valid). EURUSD is still holding above the entry which I have mentioned previously (3290).The longer we stay above this level, the stronger support is created. To put it another way, if this week doesn't create new lower lows, I would expect a push back to previous highs in the upcoming weeks. The bullish bias works for me as long as we are closing above 3250's on the daily. Any close below would mean a change in sentiment and my mind would enter in a neutral territory. Recent lows are holding back by 50 daily SMA and nice daily ascending trendline.

Other pairs I like are USDCHF and GBPUSD although I would only play them by MACRO->MICRO approach. That means: deciding the entry and the direction of the market solely based on big picture, but getting in on a micro level to get the best RR possible.
Anyway, another week of ECB meetings so who knows what that brings up.
Have a great one.

lechiffre

171717

Leave a Reply

Your email address will not be published. Required fields are marked *