For weeks we wrote about the importance of the 870/875 region in the S&P 500 and its impact on the reflation trade. That level eventually broke to the topside and the currency and commodity markets followed along. S&P futures now trade at 890 and look likey to retest those important support areas in the next few days.
EUR/USD could pullback to the 1.3350/1.3400 area if that move unfolds.
Heavy stop-loss sell orders are eyed in the 1.3540/50 area if support at 1.3555/65 region is broken. Earlier we dipped to 1.3575.
