EUR/SEK yesterday passed its 8.6990 key support, falling to lows not seen since the autumn 2000. For today we should keep in mind that normally after such a big move as yesterday’s there’s a ~80% probability of an initial dip to a fresh low followed by a bounce into yesterday’s range. Other than that yesterday’s price action indicates ending corrections in various markets. EURUSD, CABLE, fell below the mid body point of Friday’s rising benchmark candle adding confidence to a peak in place, USDJPY this morning have failed above 80 (great caution with longs if ending bleow 79.58 today), EURPLN posted a bullish engulfing candle, BUNDS rose above the first key point and OIL still stuck in the target range.
Click here to read the full report: Technical Alert
SEB tech team