Honestly, somebody really wanted to take out all the SELLers.
This move is such an exaggeration that WOW!
I believe that even though tomorrow there could be some more BUYing, still eventually it will have to come and re-test the strong resistance line, that was broken today and has become a potential support for the future price moves.
This level was 9.80679 (this year's high), which now will be a good support.
On the upside, we have the old 10.00729 and 10.08167 levels, which were the top highs for the past 7 years. Last time those levels were met were in 2010. So now EURSEK is on it's way to hitting those levels again.
Don't get me wrong, overall I think we will definitely see those high targets, but not before re-testing that support line that was created today. That's why I am making a call towards the SELL side first and then after I am becoming more bullish.
Happy trading and keep an eye on the price action!
This move is such an exaggeration that WOW!
I believe that even though tomorrow there could be some more BUYing, still eventually it will have to come and re-test the strong resistance line, that was broken today and has become a potential support for the future price moves.
This level was 9.80679 (this year's high), which now will be a good support.
On the upside, we have the old 10.00729 and 10.08167 levels, which were the top highs for the past 7 years. Last time those levels were met were in 2010. So now EURSEK is on it's way to hitting those levels again.
Don't get me wrong, overall I think we will definitely see those high targets, but not before re-testing that support line that was created today. That's why I am making a call towards the SELL side first and then after I am becoming more bullish.
Happy trading and keep an eye on the price action!