Weekly Price Action Outlook | Sept. 16th-21st

climactic price action climax bar 2ndskiesforex.com sept 16th

Gaining for 7 of the last 8 weeks and 7 for the last 8 days, the Euro has looked impressive as its been given the green light from both Bernanke and the German Court (for now).  Being that the trend is so strong, I’m only really looking for longs, but the price action is feeling a bit parabolic and climactic at this point.

Usually climactic price action means consolidation or pullback before the next leg up, so I’ll wait for pullbacks to get into this trend.   My preferred levels for getting long are 1.300 and 1.2933 (or a really deep pullback to 1.2820).  Bears can look for possible shorts on weakness heading into the weekly highs at …

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