Dollar strength making progress. Weaker SEK.

EUR/USD: With the break and close below 1.3299 a first sell signal has been triggered (underpinned by the bear divergence). If also maintaining the break into the weekly close a weekly bearish engulfing candle will be printed (with weekly stochastic turning down from its highest reading since early Feb when we peaked in the 1.37-area). The small up tic overnight looks corrective hence more weakness sought (confirmed below 1.3233, setting the next intraday target at 1.3205).

Read the full report: Technical Alert

 

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