Another congestion day. Weaker JPY.

EUR/USD: Last week became the second week in a row that the marketspiked above 1.3569 hence repeating the weekly up-thrusttop pattern. We are therefore still seeing downside potentialas greater than the opposite even though we basically needsa downside exit from the 1.3462/3569 “box” forconfirmation. To maintain downside potential 1.3607 cannotbe passed.

Read the full report: Technical Alert

 

SEB