If the recent counter-trend moves are corrections – as we think they are – they are running late now with notable overhead resistance in both SP500 & EuroStoxx50 to consider… EURUSD could still score – over 1.3699 would target 1.3765, but another upside attempt is NOT a done deal… EURGBP still looks inter-range bid for at least 0.8795… EURSEK loos set to stage another +9.15 test and the EURNOK correction lower should end somewhere in the 7.75/68-area… In this context NOKSEK looks northbound again… EURPLN has some room left to maneuvre south (towards 4.2870/15) before turning the tide (higher) again… The 10y FRA/GER spread makes its final consolidative move lower before breaking higher again… Bunds still hang onto support, but over 135.87 is needed for a more bullish stance… Overhead resistance for the front Brent Crude contract is thick… Below $104.95 would be renewed bearish…
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Tech team
Skandinaviska Enskilda Banken AB