Considering the SP futures it's giving me some insight to the possible future move of the EUR/USD. If we see a decrease to the 78.6 Fib level, risk aversion would be dominant in the market and the EUR/USD will follow suit with a nice plunge, dollar power. Targeting 1.3000.
Flip side, if SP stocks split the resistance ceiling we ought to see further gains in the EUR/USD well past 1.3400.
I will be paying close attention to general risk sentiment in the markets in the coming sessions.
Currently risk appetite is up and we're in a bull trend across the major indexes so I'm not ruling out further benefits in the EUR/USD. But I still have a medium term bearish outlook with this pair...
Any one have any thoughts or insight which I might have missed ahead?
Regards
Jeremy