Sideways EUR/USD & Stock Back in Business
After down about 2 month without rest, it seem EUR/USD on consolidation right now. From the movement pattern, there is more probability to be bullish for a while, even i think not to much. Honestly, i don’t like this situation, because i have to play fast on this non trending pair. There are not too much important economic data will be realeased this week, except Unemployement Claims on Thursday & Retail Sales on Friday.
Stock Market Trade
Stock Market continue to rebound into it’s previous high on 1148. S&P 500 index gapped up and closed higher on Friday following a favorable jobless report released earlier on friday.
Although Stochastics and the RSI are overbought, but the sentiment remain neutral to bullish signaling that sideways to higher prices are possible near-term. January’s high at 1148 is the next upside target. Index back to move above Moving Averages, so the bear beaten again. Let’s wait what will happen after index touches it’s previous high.
Happy Trading All