EUR / USD bulls is pounding the resistance


Last week was interesting.

The EUR / USD was constantly pounding and chipping at 1.42.

Bullish momentum seems strong.

Today being the start of the week, we are at it again.

We almost touched 1.43.

We could be looking at the breakdown of the 1.42 region if the bullish drive keeps up.


An interesting point to consider that may suggest this is the recent gains of the S & P 500.

I always see a loose correlation between them and i present to you in this chart below.


For the past 2 years, you can see a loose correlation between both. EUR/USD being the more subtle one.

If this correlation is in any way valid, i will be watching out for EUR/USD to catch up with the S&P 500.


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