GeneraldisastersInc

EURSEK - Decision to break or keep trending

Long
FX:EURSEK   Euro / Swedish Krona
EURSEK has arrived at a trend channel top and a resistance level . It looks like it wants to break out, so watch for that. In that case the target would be the next resistance around 9.39. There have been earlier fakeouts, so would give it a day or two closing above the trendline around 9.3.

If EURSEK does not break out in the next days then it will probably just continue the trend channel down to around 9.1. In that case a short around 9.25 would be in order.
Comment: It broke through resistance very strongly. However I will still give it a day or two and a retest would be nice/ GBPAUD has not broken through so still watching that.
Comment: Looking for the retest now. I am still not convinced it has changed trend significantly.
Trade active: Trade long at 9.288
Trade closed: target reached: Good trade, much profit. Very wow.

Comments

Even though they dont share any symbols, it seems EURSEK in blue and GBPAUD in black are very correlated on their downtrends lately. So you would expect if one changes trends, the other would do the same. Something to look keep in mind.
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