4th of July celeb’s in the US. Well eventful was perhaps an understatment… The SEK took a real beating after the surprising 50bps cut and an adjusted wave count now calls for EURSEK to probably stretch out for the 9.50’s. € support seems to finally start eroding. AUD continues to be sold off. Bond yields went up and down, BRENT’s decline seems to be slowing and GOLD deeper back into the prior range.
EURUSD look for a dip down to 1.3565/75 before rebounding, AUDNZD sell into this minor reaction, EURJPY still in the process of ending the upside correction, EURSEK will probably digest yesterdays moves in a 9.26/35 range, USDSEK should soon be back for a new attempt to crack the 6.86/87 resistance, EURNOK’s topside spike calls for a more profound setback, NOKSEK must break 1.1040 to confirm the 1.13’s, EURHUF rechecking the recent break, €stoxx50 seems heading for a new trend high, Sep BUNDS the down and up move keeps topside focus in place and BRENT finally showing signs of an ending reaction
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