EUR/USD reversed losses incurred yesterday and managed to claw into a close at opening levels. It could be an intermediate “wave-5 low” but more bullish price action is needed to add credence to this… EURSEK remains as stretched as it is offered and it seems fair to assume that the o/n gap towards 8.43 will be covered before heading into fresh lows – then with ~8.33 being the next objective… EURNOK looks a tad less vibrant and could pause in a 7.35\7.43 range for a few sessions before moving lower again… USDJPY prematurely added a bullish print yesterday which opens up for a moderate correction higher (closer to but not above 79.08) before trading lower again – as indicated by the narrowing JAP/US 10y yield spread… Bullish break above the “Wedge” was seen in EURPLN yesterday. There is hefty resistance above (@4.2160-4.2580) but/if when breached it could be a rather powerful signal for both short-, medium-, & long-term investors to seek longs… SP500 had a bad hair day yesterday, respecting support but still threatening more important refs below at 1320 & 1303… Brent Crude on the other hand seems to draw support from a multitude of refs below ($103-100), but over $105 & $107 is needed to show renewed buyers’ initiative…
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SEB tech team