The consolidation phase slowly ending, risk aversion should be on the rise.
EUR should, after yesterday’s topside rejection, continue its slide against $/£/JPY/CHF etc. NZD/USD spike should worry longs (and they are very long indeed – a crowded trade), AUD equities on the verge of a major break lower….worth keeping an eye on. EURSEK completed its congestion triangle and is now set for new cycle highs..9.29-9.33, USDSEK looks bid and should continue attracting buyers, EURNOK grinding higher but might get a boost from USDNOK buying, EURPLN turning our eyes at the 4.11/1250 long term key resistance, BONDS mixed…BUNDS v v imp weekly closing point at 127.50, US 10y likely to set another low, in yield terms, EQUITIES to slide, Oil small offered and GOLD pausing ahead of new highs.
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http://www.easyforexnews.net/wp-content/uploads/2011/07/TA1507.pdf
Tech team
Skandinaviska Enskilda Banken AB