It seems like the market is consolidating or at best correcting some recent risk-off trades, but it’s way too early to call for more lasting lows/highs in place…
EURUSD over 1.3585 could call for levels as high as 1.3800… EURJPY over 103.80\95 would trigger more buy-stops and the correctinal advance in GBPUSD is still on (but it looks very weak)… EURSEK below 9.1950/1775 would put the door ajar for 9.08/05 before higher and EURNOK under 7.7550 would suggest ~7.70/68 before up… USDCAD spiked above recent highs and should retreat towards 1.0170, possibly all the way back towards 1.0030. Somewhere in this area a buying opportunity should unfold… Gold is in a deep short-term tailspin, now testing the 233day EMA band… EURPLN holds one more leg lower likely before up, but USDTRY looks stubbornly bid near its recent highs => watch the upside… Bonds, stocks and oil are also in correctional moves…
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Tech team
Skandinaviska Enskilda Banken AB