Week ahead (12 – 18.8.2013) – EURUSD

This is my comment from last week:

If on the other hand we would breakout of 3350′s, I would go LONG on any decent pull back which happends to be above 3320′s.

Last week I was bearish as long as the scenario mentioned above wasn’t valid. Market has decided to go with this scenario and went as high as 1.34.  This means a weekly range of 169 pips which is an average of this summer holiday season. So where to go from here? I have no idea. As long as we can hold above blue ascending trendlines, I am bullish. Touch-back to 3320’s supported by strong and precise rejection would be a good hint to get long and aim for last week highs. On the other hand. If we close on a daily below 3290’s, I would prefer to aim for 3160’s.

Have a great trading week.

lechiffre
“Now” matters most! Your next trade depends on it.