Week ahead (28.7 – 3.8.2013) – EURUSD

20130728-eurusd-thought

Last time I have mentioned my bullish conviction. What I think right now? I dunno … I mean price action tells me a story of: previous resistances are holding as supports. A higher high tale is in progress but we are getting into an interesting level where SHORTS will be happy to man up and show us their balls. I think that area is anywhere between 3325 – 3350. So I would say for the week:  go as far as the hair goes (3350) and then start to be very cautios. There might be some huge motherfuckers ready for distribution (perfect fade play if PA would suggest precise market reaction)

Have a good one.

lechiffre

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