When it comes to GU, the plan from last week is still on. Target 1 was hit very fast, on monday already and target 2, which was 2350, could be hit next week. Since EURGBP is turning, I will be turning more towards a stronger pound over the euro, so I am looking to sell EU next week, once we reach the 1000 area again. If EG keeps dropping, as expected, GU may go up, even if EU goes sideways or drops a little. So its not a good idea to look for correlation between EU and GU next week and long or short both at the same time. They may go different directions many times of the week, so be careful.
The plan, when it comes to EU, is to buy towards 950 and then look for shorting opportunities close to or above 1000. I have 3 targets, 950, 990 and 820, not necessarily for next week, so we need to wait for the week to unfold to see which direction we’ll go towards first. I expect a bull first, early in the week.
I have a medium to long term target on EG below 8500, so I will choose my EU and GU trades accordingly to that. That is, of course, if 9000 on EG stays safe and untouched. This week, we had 2 attempts to break it and market couldn’t even touch it, turned both times at 8999, which is a strong sell signal.