EURSEK - Sooner or later, but not yet.

FX:EURSEK   Euro / Swedish Krona
53 5 2
I think at some point it can become one of the next major EUR cross shorts. But not yet.

It is still moving sideaway, with maybe some bearish bias now.

Why do I put this chart on then? The reason is that if once it breaks the key support, it can start a massive bearish trend . The Key levels are still the same: 9,1440 - horizontal support below the Kumo and more importantly 9,10 - the long term uptrend line.

Of course there is still possibility that the major uptrend may continue, but given the ECB's dovishness and the fact that the mkt is pretty short on SEK             in general (mainly vs USD), the probability of a trend reversal is somehow increasing.

Place your alerts, not to miss it! Anyway, I will call your attention in time, so if you keep on following me, you'll have the alert in time. :-)
Swedish PPI released this morning, better than expected. I sold 0,5 trade unit. Size up below 9,15.
Thanks, will watch and trade it at time.
May I ask what is your entry and target price?
In this pair my trading plan will be a classic Kumo breakout strategy:
Sell first trade unit when Price breaks below the 9,1440 key level. By then you will see more confirmation signals as well, for example on 4 Hrs DMI lines will widen with ADX picking up, also on the Daily chart the Chikou Span (lagging line) will drop below Price candles and the Kumo.
9,10 will still hold first, so the strategy to leverage up the short position will be either on a pull back up to Kijun Sen and Kumo, or on the break of the 9,10, which will also be a break of the long term trend line.
Initial tgt will be 8,96.
Observation charts are also good - thanx!
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