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Long

Pullback at the Selling Zone

FX_IDC:EURSEK   Euro / Swedish Krona
32 0 6
The Breakout since my first Analysis @ 9.40 ended at 9.62 - the midterm-selling zone. This Zone is corresponding to the longterm uptrends bottom ede             and some former lows.. The Pair is consolidating it s breakout. Since now, this consolidtion stopped at ist s 38,2 fibo retracement (9.16-9.62). IMO             at the old breakout Level (6.4) between the 38,2 & 0,5 fibo retracement should strongly Support the market. Here you can try to buy the retest again.

Bearish view: Should the Pair fall back under the Support @ 9,4, the shortterm uptrend will break and lower lows can be exspected :
TP1: 9.33 (midterm uptrend bottom edge) & SMA/EMA 200
TP2: Last Low @ 9.06

bullish view: The Pair will be bought at this Level, a new wave to the midterm selling Zone could start. TP= 9.61
Trading above the big selling Zone will generate a BIG LONG SIGNAL

Former Analysis:

Buying the Retest was a good idea! Now the Pair nearly has reached the bottom edge of the longterm trendchannel. This could be a niveau, where a consolidation can start. For those who want to hold the Pair a bit longer, a stoploss-adjustment makes sense.


Buying the retest

The pullback ended @ the old breakout Level. A new Long Chance?

former view:


After the break of the longterm uptrend @ 9,33 in march EURSEK             is consolidating this strong sell-off and reached several times its maximum correction level (fibo 62,8%).
This strong resist @ 9,4 seems to be invincable. 6 times you had the chance to fix that level sucessfully. Is it time for the next short position? The chance-risk-ratio is wonderful again , nearly 8:1!

But beware!

Above that resistance a fast shortsqueeze can be exspected. All people who fixed that level (short) have to cover their positions then an switch to the buyers :-) A first target on the upside could be the longterm-uptrend lower edge which turned to a rsistance zone.
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