Week ahead (17.6 – 22.6.2013) – EURUSD

With third consecutive week when EURUSD is making new higher high I think we have reached the potential top for several weeks ahead. I might be mistaken and it all has to be confirmed by this weeks price action. If there is no higher high created this week, I think we would head for a retracement back to 1.32. In my last week post I have stated a retracement and then new HIGHER HIGH. The retracement was not as big as I have predicted but new higher high was created. Having said that, I am still bullish and as long as this week doesn’t prove my hypothesis above, I believe we are going to see new highs in weeks ahead. In a meantime, forget about predictions and focus on momentum price action. My opinion can change within minutes and I hope so does yours.

Have a great trading week.

lechiffre