Calm markets overnight but some interesting developments nevertheless taking place. The EZ bank index (a sub index of €stoxx600) yesterday took another big step toward confirming a head and shoulders top formation. Bond yields continued to decline (and Germany will soon be down at previous historical lows), AUD has or is close to end the current upside correction, USDCAD buyers posted their first victory for a long time yesterday, EURGBP created a bullish key day reversal calling for at least a 0.7970/80 lift.
EURUSD the small bounce should soon end and 1.3565/75 again come under pressure, AUDUSD clearly a bearish setup, EURJPY new attempt lower already running, EURSEK look for renewed buying in the 9.28/29 area, USDSEK the bull triangle is still the best fitted pattern, EURNOK minimum correction target now met but possible more to come, NOKSEK 1.1100 reached but where are the sellers? USDMXN potentiall a very bullish setup, BUNDS soon at a new trend high, €STOXX banks this is potentially a very dangerous setup, BRENT now back into the key support zone and GOLD found some bids in the 1311/12-area.
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