Week ahead (24.6 – 30.6.2013) – EURUSD

HIGHER HIGH has been created during the last week of trading. That was a fourth weekly consecutive high although the move was nothing special and then it has come. Finally the retracement I was pointing to has happened.  Currency pair has declined as low as 3097. This retracement comes to a 50% of 2793 – 3416 move. As long as we are going to hold in or above 3100 – 3050’s I think there is a chance of revisiting previous highs. Having said that I am expecting the pair to channel higher up to 3250’s. Price action will tell.

Risk wisely, be disciplined and have a great trading week.

lechiffre