Week ahead – just a thought

Looking at the weekly and daily charts of EURUSD, it is obvious that the pair is going through the stage of consolidation and I am repeating it again – I would not be surprised if we would see a range trading in the next month 1.28 – 1.31. In the week ahead the deciding range is going to be 1.29 – 1.30. With the LOWER HIGH created (3170[17.9.2012] vs 3139 [17.10.2012]) the short term{H1} BIAS right now is SHORT. Moves beyond the mentioned range {1.28 – 1.31} would become more probable if the trading would shift more tightly to the upper (LONG) or lower range (SHORT). Always remember the big picture and use the crowd in your advantage.

 

Have a good trading week.