I guess we'll are in the final up leg in this EURUSD bull move and we'll see a ~200pip pullback within two weeks (+- a few days).
Also ECB speaking heads today and I would be very surprised if they will not try to "speak the EURO down".
SPY RSI(14) on the monthly chart is 1 point away from a new record level. The old record happened way back in time; 1996.
- The bullish momentum is strong
- But last time when SPY was at this high RSI -levels, a -10% pullback was around the corner
EURUSD is getting very stretched right now. It is quite unusual that we are this far away from mean values (pick your timeframe and values). The Dollar index is taking a beating but I'm still guessing that we are very close to seeing consolidaton / pullback right now.
The EURUSD 1H chart will probably soon enough give hints, will the mid term trend (2-3weeks) continue up or down. Right now I'm guessing it will bounce around today in the "triangle" on the chart.
Disclosure: EURUSD hedge open with long bias.