Some very interesting developments took place Friday creating possible turnaround patterns in EUR/USD, CABLE, EURGBP, NOKSEK. EURUSD the weekly up-thrust peak/daily bearish engulfing candle/bear divergence calls for a correctional high to finally be put in place. BOE GBP index (and GBPUSD/EURGBP) printed a very bearish candle indicating that the entire sterling rally from March might have ended. USDJPY still in search for a correctional low, EURSEK continues to build upside pressure and 8.7275 is now up for grabs, USDSEK a higher low is a first sign of a possible bottom, EURNOK sees more downside room, 8.02/05 near term, NOKSEK the V-bottom triggered impulsive buying and there’s more to come, EURPLN buyers around support, BUNDS (price) a corrective slide should soon end and give way to more buying, NOTES rechecking support at 125-30, S&P consolidating just above the support line, OIL hourly contracting range points at an upside break and GOLD in a narrow range.
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