ridethepig
Short

SEK remains a very cheap G10 currency

FOREXCOM:EURSEK   Euro / Swedish Krona
=> We are eyeballing a break of the current range to the downside here in EURSEK
=> Our targets are 10.00x with stops above the 76.4 fib at 10.600x
=> This is a very technical play in an environment where SEK valuations are attractive to say the least. We've done superbly well in our USDSEK shorts so far despite the broad based dollar strength and we see SEK benefiting from a more hawkish ECB in the coming sessions.
=> The Riksbank has breathing room on the monetary policy side after turning more hawkish in the past few weeks with even the most dovish members accepting that hikes are necessary.
=> Best of luck all trading this one live
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