I was testing yen strength as the EURJPY
are doing nice with there fall USDSEK
could better relly upward too. I am saying this cause USDSEK
currently has like -0.80 correlation to the EURJPY
. Seeing a weak pound USD is also pulling down the GBPUSD
and talking about this pair it is highly positively correlated to EURJPY
so, if it falls hard that's good for EURJPY
short (sell)! And as I said if EJ and GJ are falling what we end up with? USDSEK
upward relly right? Eh! Charts show everything I hope you all do understand.
The Key point in Chart.
1) Price trying to breakout the Minor Resistance Level
2) Ascending Triangle
pattern indicating upward continuation in price.
3) Impulse waves are in uptrend side of the Elliott wave
4) Fibonacci Extension
38.20% chasing by the price and could possibly chase further higher levels depending on the pair upward strength.
Ok, thank you never mind I don't wanna stretch this post longer. Everything is told by chart itself better just be careful with the news sentiment, concerned +/- correlated pairs activities how they acting in whole and some important levels like those resistance, support etc.