The SPX 500 sits about 4 points higher than Wednesday’s close on the S&P500 (as of 7:55am EST). We may see the major pairs rally against the USD as equities continue move upwards.
The EUR/USD has broken through the 1.29 level and may continue to rally for the short term. However the overall macro trend is still bearish as no official haircuts have been confirmed.
If you are still holding short the EUR/USD and cant hedge due to FIFO, try checking out EUR/JPY or EUR/AUD. Technicals state a correction is overdue and it could be an opportunity to hedge against the EUR/USD if this rally continues.
Today we have some major economic releases coming out of the US so take caution and use proper leverage if rumors shift sentiment.
