Key events today and tomorrow are obvious key risks to anything we have seen during the position deployment ahead of announcements…
EURUSD remains near-term paced and could in the process also test +1.29, but is likely to face some responding sellers there… Also the SP500/EuroStoxx50 relative performance that recently has been a bullish euro driver is soon though to come to a reversal point and if so turning its back to the common currency once more… The USD index is forced lower and soon starts questioning a medium-term bullish count /though a bearish alternative can’t be considered barring a sub-78.10 move… AUDUSD is also pushed higher and is now holding key refs at 1.0519-1.0559 on the radar. Support at ~1.0400-1.0320… USDJPY is just a notch from breaking below the Jun low of 77.65 and it seems only a miracle (read intervention) can stop this from materializing…
EURSEK trades slowly, but should eye support at 8.4450 & 8.4345 again. Resistance likely at 8.5060-8.5165… USDSEK is threatening to break below support pockets at 6.5780 & 6.5450 thus also exposing a key medium-term ref at 6.5260… EURNOK on the other hand looks staged to test resistance at 7.4230 & 7.4365 (so some headwinds for NOK/SEK there too)… EURNOK+USDJPY=JPYNOK bullish for a >7.4635 move (with an earlier attempt lower now backfiring)…
EURPLN fell through expected support yesterday and could extend the move towards 4.0285/~4.01. Back over 4.1180 is needed to “avoid” this… Gold is headed for a >$1800 test before long while bonds both in Germany & in the US is under some pressure near-term. 139.30 & 132-08 are worth keeping in the corner of the eye… S&P500 & Brent are meandering inside near-term ranges…
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SEB tech team