They announced yesterday they reached their targets of 10.60, this could be when every one takes profit.
On the higher time frames, we can see there is a resistance in this area, might be a little higher depends how you draw it, but it is approximately in that area.
So I am not aiming for the SEK to gain strength long term, but I am betting on a bounce.
Also, the EURO is no longer on an upity upitytrend, might dump soon. The SEK right now is not super negative, it is neutral (and at ING traders target and at resistance), until the 12 March (When the Swedish bonds mature). I see no reason to short the SEK until then.
If it is neutral and the euro well...
The euro has been in a bear market for almost 1 year now. A dump looks imminent.
All I had to do was ask :D
What a massive rally of the SEK. Wonderful.
- Warren Dalio