After a long streak of losing trades finally I had three wining trades, two winning in EURUSD and one in EURGBP. Finally I feel like I’ve got the grip in terms of executing my own strategy. Let’s see what I expect for the coming week.
EURUSD: Bullish trend still intact wiht a new short term high. Friday’s corrective session ended with a bullish pin followed by an inside bar on the 4h timeframe. Next week we may see another attempt at 1.3860. I keep playing the long side.
EURGBP: Also bullish, the Sterling was very strong recently against the Dollar but seems unable to break the 1.6300 prior high therefore I expect the Euro to show relative strength versus the GBP.
EURCHF: Still in downtrend but possible upside reversal at 1.2730 which was the resistance level of the Dec-Jan bottoming formation. If the political situation in Libya does not escalate then there will be less demand for safe haven currencies like CHF.