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FX weekly: Fat-burning shorts
First, before engaging in more esoteric stuff, we offer some FX quickies for those of a tactical persuasion. EUR/USD: still slightly downwards biased, with resistance on the upside around 1.1448. EUR/NOK: rising liquidity a seasonal problem for the NOK even as a first rate hike beckons. Shorts should stay away until mid-September. If EUR/NOK reaches 9.80 before mid-September, this would be very attractive levels to re-enter a short from. EUR/SEK: Swedish politics and weak inflation has paved the way for an upside break-out. We still recommend to buy-on-dips. EUR/GBP: Sell on rallies above 0.90, as Bank of England ... (full story)