A second possibly bullish EURUSD candle in three days, is this the first step towards a (correctional) recovery? Well, extension through 1.2224 would open up for at least 1.2325\34 before down again. Back under 1.2109 would be renewed negative… Same goes for EURJPY which above 95.35\60 would be posed for a correction towards the monthly average near 97.00, but not so if breaking back under 94.65/46… Also EURGBP looks similar after yesterday’s notably bullish print. Expect support at yesterday’s mid-body point around 0.7810… EURSEK goes the same way and a ~8.53 rally to vent late and excessive shorts looks about right. Below 8.4310 would start question this… EURNOK trades in range (a “Triangle” or “Flag”) Could re-check 7.4075 before down, less likely if eroding support at 7.3635… EURPLN added a bigger than thought setback to a bullish case, but while holding above 4.1720 it should be seen as a support re-check, late paving the way for a 3rd 4.2160 attempt… Bunds were sold lower for a 3rd consecutive session yesterday, but buyers responded again. For today keep a 144.02\145.20 double watch with the market… EuroStoxx50 is NOT out of the woods. Sellers responded to the intraday attempt higher yesterday, showing respect to supposedly strong short-term resistance at 2,200\2,235. Also over 2,310 is needed to divert focus from expected erosion below the 2,121 key ref below…
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SEB tech team