SEK: A very interesting chart

• RES 4: 184.34 2.000 proj of the Jul 31 - Sep 29 - Oct 2 price swing
• RES 3: 183.07 1.764 proj of the Jul 31 - Sep 29 - Oct 2 price swing
• RES 2: 182.96 Bull channel top drawn from the Feb 28 low
• RES 1: 182.01 High Nov 20 and the bull trigger
• PRICE: 180.59 @ 07:37 GMT Nov 24
• SUP 1: 179.77 Low Nov 21
• SUP 2: 178.87/176.83 20- and 50-day EMA values 
• SUP 3: 175.71 Low Nov 5  
• SUP 4: 174.82 Bull channel support drawn from the Feb 28 low 

The trend outlook in EURJPY is unchanged, a firm bull cycle remains intact and last week’s strong gains reinforce the current trend condition. The move higher confirms a resumption of the uptrend and maintains the bullish price sequence of higher highs and higher lows. Sights are 182.96, the top of a bull channel drawn from the Feb 28 low. First key support lies at 178.87, the 20-day EMA. A pullback would be considered corrective.

• RES 4: 6953.75 High Oct 30 and bull trigger
• RES 3: 6900.50 High Nov 12
• RES 2: 6735.63/6791.25 20-day EMA / High Nov 20
• RES 1: 6677.50 High Nov 21    
• PRICE: 6653.25 @ 07:21 GMT Nov 24
• SUP 1: 6525.00 Low Nov 21  
• SUP 2: 6500.00 Round number support 
• SUP 3: 6476.62 23.6% retracement of the Apr 7 - Oct 30 uptrend
• SUP 4: 6427.00 Low Sep 2  

S&P E-Minis remain in a short-term bear-mode condition and weakness last week reinforces current conditions. The breach of 6655.70, the Nov 7 low cancels recent bullish signals and signals scope for an extension of the corrective cycle. Sights are on 6540.25 (pierced), the Oct 10 low and a key support. A clear break of it would open 6476.62, a Fibonacci retracement point. Initial firm resistance to watch is 6735.63, the 20-day EMA.

Swiss employment declined in Q3 on a sequential comparison, but not as much as GDP, implying unfavourable productivity developments for last quarter. Despite pronounced weakness in the Swiss economy in Q3, barring new shocks, the expectation remains for the SNB to remain on hold for the foreseeable future as a cut into negative territory would have to be warranted by renewed downside pressure in inflation below 0%. (Note: original bullet said favourable rather than unfavourable).

• "Compared with previous quarter, seasonally-adjusted employee numbers in enterprises fell by 3300 jobs (–0.1%) in the 3rd quarter 2025. Employment in the secondary sector thus fell by 2100 jobs  (–0.2%) within one quarter, while the number of jobs in tertiary sector remained stable compared with the previous quarter", SECO comments.
• "Enterprises reported 10.5% fewer vacancies than a year earlier, and difficulties recruiting skilled workers have continued to decline. Employment prospects remained stable, despite enterprises’ muted expectations"