Chart obtained from Euro/SGD Rates on Yahoo Finance.
First, the news of payroll, employment and other economic data coming out of US have been positive and suggesting recovery. It has been suggested that the US will grow slightly in this year and lead Europe out of its recession.
Second, the Greek issue has been slowly resolved and expect Greece to have a second bailout by the end of this week after all the hard work from members of the EU.
Thirdly, the Euro has been gradually strengthening over the month. Looking at the chart above, it seems like a double bottom has played out and the Euro is on a recovery against the Sing dollar as has been the case against the greenback too. This is ideal as well as it shows the appetite and the confidence slowly building back into the Euro after the crash last December after reports of a suggested Greek default being on the cards.
Headwinds lie ahead of course but for those of us trading, I believe there are money making opportunities that are surfacing today. The confidence and conviction to trade given these sensible news and real data being presented are telling. But as the nag goes, do take note of your time horizon of trade and do not anticipate too long a trade. Given we are not totally out of the malaise climate yet, do not take too high a risk. High risk high returns. High risk high losses. Trade, profit and enjoy yourself. Stay sustainable this week.