Not much is better than when we left desks Wednesday… Dollar strength remains on the fore, but now likely with EURUSD in a grind lower than in a freefall… EURGBP could even give back some more losses near-term… USDCAD on the other hand has picked up momentum for later tests of 1.0290\1.0320 – at least as long as 1.0065/53 remains supportive… EURSEK has closed a prior European gap & re-tested the May15 mid-body point and looks staged to eke out a >9.1695 high… USDSEK also looks set to expand the move higher above 7.23 but not above 7.31 short-term… EURNOK looks messy, but still tilted higher with another >7.65 test likely… EURPLN goes the same way and ought to pursue the recent >7.40 high again… Bunds remain in fashion and the cash yield could shrink below 1.40%… SP500 looks short-term stretch and perhaps not fall below 1284 before the weekend, but a low weekly close would spell trouble for the weeks ahead… Brent Crude has crashed through Fibo supports above $108 and is paced for a ~$105 test…
Click here to read the full report: Technical Alert
SEB tech team