Not much happened last week in the stock market except slight sell-off on Friday. Should we worry about it? – I don’t think so. I expect to see a bit more of downside in coming few sessions and then next leg up. Our last tp near 3 100 is still intact. At least we need really significant fundamentals to change the trend.
Up and down, up and down all day around. Guess, what is it? – It’s EUR/USD last week. No fundamentals, no volume, and no move. Well, will it break up or down? A lot depends on coming news, but technically break above Thursday’s high will bring the price to 1.11500 and 1.12500. But we have to take that high first. Otherwise, wait for clear direction. I will follow this plan on managed accounts too.
We have talked about a rally in sugar few weeks ago. So, guys, the time has come. Cycles suggest we should see move up, seasonals too and besides commercials have already started buying. So, where to buy? I believe anything near 11 will be good. Pay special attention to the daily chart. A few days ago there was a gap up. It is already filled. So, we have a clear understanding of sl level. I believe we will see a move to 12 at least.
Wishing you a great week!
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