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ThinkingAntsOk

Bearish Analysis on USD/SEK by ThinkingAntsOk

Short
U.S. Dollar / Swedish Krona (FX:USDSEK)  
ThinkingAntsOk  
FX:USDSEK   U.S. Dollar / Swedish Krona
Trend Analysis Support and Resistance Multiple Time Frame Analysis USD SEK USDSEK short analysis trade
8
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trendanalysis supportandresistance mtfa usd sek usdsek short analysis trade
4H CHART EXPLANATION:

On this timeframe we observe that price is on a small consolidation at this moment. If it breaks down and the Ascending Trendline is broken, then we will wait for a corrective structure (continuation pattern) like a triangle, pennant, flag, etc. to take this trade. The first short term target is the confluence zone between the Daily Ascending Trendline and the Support Zone at 9.5800 - 9.6000. If this zone is broken, then price has potential to reach the Support Zone at 9.2500. The long term analysis is below on the Daily chart.

DAILY CHART EXPLANATION:

snapshot

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