EURUSD is one notch closer to the 1.3291 ref, but a bullish case is NOT a done deal… GBPUSD is also higher and closed above a near-term important ref, but could still be building a larger top formation – as indicated by lesser volumes during the recent advance… EURJPY is closing in on an Oct’11 111.57 peak and developments have to be watched… Is USDJPY forming a “Bullish flag” or a top – we will soon be aware. Over 83.85 would be renewed bullish… EURSEK is moving nowhere fast within a broader 8.85\8.96-range while EURNOK didn’t correct as deep as wished for and the 7.5990 high is back in sight… NOKSEK under 1.1710 looks likely and it would open for refs further south, but beware a session close back inside the current range… The Shanghai Composite is building a bearish flag and attention to 2366 is required for those involved… Bunds finally enjoy some kind of support, the US 10y note doesn’t, but could still draw support from the 127-20 level (front contract)… EuroStoxx50 is approaching a target level at 2637 so stay alert for renewed bearish clues as profit taking is likely to kick in…
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SEB tech team