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InvestingScope
Oct 24, 2023 3:58 PM

USDSEK: Rising towards the September high. Long

U.S. DOLLAR / SWEDISH KRONAICE

Description

USDSEK crossed over the LH trend-line as well as the 1D MA50, ending the 1 month pullback and turning the 1D timeframe bullish again (RSI = 57.915, MACD = -0.004, ADX = 28.535). According to two same fractals within 2023, we should be expecting at least a test of the Resistance, if not the 1.236 Fibonacci extension. As long as the 1D MA50 holds, we are short term buyers aiming at September's High (TP = 11.250).

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