Swissy pursuing overhead resistance and downside risks to stocks in general and in EuroStoxx 50 in particular is the main focus today…
EURUSD below 1.4350 would strongly hint of another upside failure… EuroStoxx50 under 2268 would start to look ugly… EURCHF is sniffing resistance in the 55day EMA. Over 1.1730 would neutralize backdrop outlook (from bearish)… EURSEK is looking for a 9.19/16 “C-wave low” & EURNOK under 7.81 would target ~7.75 again… EURPLN holds above support. Over ~4.19 would argue for a >4.4245\65 high… Bunds & US tens may have passed a correctional low already… The move higher in oil looks tired… and finally: The SWE 2s/10s looks set to narrow further – next target at +49bps…
Click here to read the full report:
http://www.easyforexnews.net/wp-content/uploads/2011/08/TA1708.pdf
Tech team
Skandinaviska Enskilda Banken AB