Nothing much is boiling out there at the moment… Things are simmering below the surface but the market is in a cautious on hold mood it seems… EURUSD & EURJPY charts looks just the same (=USDJPY at a standstill)… The former has met its initial correctional objective but may (or may not) extend gains somewhat further before turning notably lower again… EURGBP is trading bullishly, but 0.8800/0.8771 could possibly be re-tested before up… EURSEK & EURNOK show surprising weakness and further scandie strength looks likely. EURSEK could test 8.91/89 and EURNOK looks set for a ~7.82 move… Dollar strength against NZD & MXN seems to be fading and some refs further out has to be closely watched… US tens were held from breaking lower, leaving supports below intact…
Tech Team,
Skandinaviska Enskilda Banken AB