JFD_Research

EURSEK - 240 - Popping higher. Can it continue?

Long
FX_IDC:EURSEK   Euro / Swedish Krona
Trade idea.

This morning, EURSEK exploded to the upside and traveled higher, but found resistance near the 10.75 barrier. It may continue testing that area, or even correct back down a bit from there. But if that barrier eventually surrenders to the buyers, it may open the door to some higher levels. Given that we have missed the sharp uprise, we could try to take advantage of a potential break above the 10.75 zone, but only after we see some correction lower.

Please see the chart for details.

Don't forget your stop-loss.
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Comments

A good chart and you are right to mention resistance at the 10.75xx. Here I am on the other side to you and actively short with my map defined for 2020...
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JFD_Research ridethepig
@ridethepig, Not saying that you are wrong. That's we are looking at a possible short-term move higher only above 10.75.
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