The dollar rise gained traction yesterday and especially so vis-a-vis the emerging market bloc. USD/SEK & NOK also showing bullish signs with key day reversals yday. Commodities are weaker (and there’s more to come) in general, the rally in equites is coming closer to a reaction (OMX printed a bearish key day reversal yday) and bonds should be in demand after the current minor reaction. EURUSD exit bear flag => 1.28/29 coming up next, EURGBP bearish triangle as long as 0.8686 doesn’t give way, EURJPY bearish? intactivity, EURSEK yesterday’s spike indicates that sellers running out of steam, USDSEK bullish key day reversal points north, EURNOK look for bullish signs, NOKSEK bear triangle or flag? next step will be down to 1.1050/70, USDCAD heading next for 1.0343, USDTRY, EURHUF, USDHUF, EURPLN all exploring a northern path, BUNDS & NOTES ending corrections, S&P500 hesitation at high altitude and OIL back on track lower.
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