Corrections accross the board are now gaining momentum. Dollar on a lot more positive footing, € weakening, £ recovering after the January slump and some signs of JPY buying as well (AUDJPY for instance triggered its hourly head and shoulders top). Bond yields also started retreating. EURUSD more weakness near term, key junction 1.3350ish, $ index posted a very positive session yesterday, buy the dips, EURGBP, the most overbought of them all finally started its long overdue reaction, EURSEK continues to play the contracting range (8.5350/5500 – 8.64/6535), USDSEK look out for an upside break from the falling wedge, EURNOK bull triangle case close to being wrong, NOKSEK exploring the 1.1625/45 key resistance, USDINR (1mNDF) terminating downside correction? USDHUF making positive progress, BUNDS & NOTES are both seen higher, €stoxx50 soon time for a bounce (but still seen underperforming S&P500 hence supporting lower €/$), OIL bid, bid ….
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