EUR advance looks correctional in EURUSD & EURJPY… A correctional top may already be passed in EURGBP… EUR/scandies still trade sideways but lower shadows in EURSEK and loss of downside momentum puts focus on 8.96 above… NOKSEK should test 1.1550\80 before turning lower again (corrective peak already passed if back under 1.1480)… USDHUF is one of the leading dollar crosses already flying (others are thought to follow)… EURPLN is back over the 55day moving average band and is thought to extend gains… A short-term bullish divergence in GOLD is in place, arguing for additional gains ahead… Bunds correctively lower and EuroStoxx50 stretching for 2412 before lower again… Oil trades higher, but unless breaking $111.33 the outlook remains bearish…
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Tech team
Skandinaviska Enskilda Banken AB