Week ahead (20-26.5.2013) – EURUSD

And here we are. As stated many times in my previous posts, we have finally entered a bearish territory. We have been able to close below 2970’s on a daily which was an ultimate bearish signal. My eyes are now on 2750’s as THE next target. In a matter of fact, there is a nice bearish play developing: as long as we can hold below 2840’s during the Monday asian session, there is a high probability that we are going to see a retest of 2800’s during Monday or Tuseday sessions (trade with a minimum of +3R). On the other hand I am going to become a bull once we are going to close above 3000 again – BUT until that time, I am using more size on a bearish setups.

Have a great trading week.

lechiffre