It seems that the euro is flipping back into a defensive position, at least against the dollar, yen & pound – but not so against the krona with TCW breaking higher ground and EURSEK marching into a 8.45-8.50 test… EURUSD near-term key ref to watch is still some way off at 1.2465, while EURGBP has already violated the base of a “round-top” targeting 0.7849 and EURJPY is about to scout a key near-term ref at 97.80… AUDUSD is also stuck on a losing streak (following a meek attempt higher yesterday), now targeting 1.0170 & 1.0100… EURNOK looks ready to bearishly break a triangle, but such a break could later turn a lemon with Brent possibly adding a double top and the OBX index holding a quite bearish wave pattern… EuroStoxx also develop something nasty with a topside failure added yesterday. Key ref to watch below is found at 2397… Elsewhere the zloty is exposed while trading in a bullish EURPLN triangle ready to burst, targeting overhead refs at 4.2215 & 4.2575-80… German Sep Bund and US Dec tens both point higher still. Key refs to watch in those are located at 144.16 & 133-24..
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SEB tech team