It’s all about how the S&P downgrade of U.S. debt will be priced in… EURUSD is the pair with two unwanted currencies and thus the outcome is more clouded than ever. Watch 1.4285\1.4454 for clues… S&P500 has levels below yet to be tested (1160/1130)…
US & German bond futures added notably bearish prints Fri and further correction (higher yields) looks likely… USDJPY should ideally have passed a correctional low, but over 79.42 is needed to confirm… EURSEK targets 9.33\36 and EURNOK 7.8875… The aussie is hammered hard (sharply lower Copper prices adds to the pain) and further losses look likely…
Click here to read the full report:
http://www.easyforexnews.net/wp-content/uploads/2011/08/TA0808.pdf
Tech team
Skandinaviska Enskilda Banken AB