Kumowizard

EURSEK - Get ready for...?

FX:EURSEK   Euro Fx/Swedish Krona
28 0 0
... for a move. Direction is still unclear. Given the sufferring of the EUR I'd say we'll rather see a bearish breakout, but I am not yet sure. The good old advise is: wait until it happens! You may miss some of the early move, but you'll have a lot better risk-reward.

Daily: It has been moving sideaway for about a month now! DMI-ADX is clueless, so is the Slow Stoch and MACD .
At mom Price is trading in the Kumo. Tenkan, Kijun, and future Kumo components (Senkou A and B) all flat. It seems until there is no story in SEK             , or until model portfolios start to see some macro, relative value or technical change, it can not breakout in any directions.
For a strategic trend change, the lower support/resistance levels to watch are: 9, 1400             and most importantly 9,1000. If the cross breaks below that it will have a nice open space to drop.
Upper barrier is 9,2385 and 9,2975.

4 Hrs: Total trendless. Both Ichimoku setup and DMI-ADX shows a complete undecision. However we have lower highs and thus a decrasing triangle is forming, so we have slightly bigger chance for a break on the lower side at some point, but it can still take some time and some more swings within the tightenning range.

Watch the barriers carefully!
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