One big theme emerging yesterday, euro shortcovering. So the common currency up agains everthing else, even helping pushing AUD and NZD lower ag the greenback. The correction will likely continue for a day or two longer given the extremely oversold status. EURUSD make or break of the 1.2860? resistance, EURAUD (and the rest of the EUR/X:S) at least another figure higher, Cable never trigger its sell signal yesterday, look for returning sellers around 1.54, EURSEK’s close above 8.86 will add more topside pressure and 8.94 is the next key level, EURNOK responding well to its spring bottom, next 7.76ish, EUR/CEE3 posting impulsive drops, extending downside corrections, watch 4.3810 in EURPLN & 306.00/50 in EURHUF, BONDS really not doing much, Equities turned more balanced yesterday with spikes on both sides, OIL fresh high rejection created a bearish key day reversal, GOLD pausing ahead of the 233d ma.
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Good luck
SEB tech team