HexVex
Long

Will the Riksbank surprise Thursday morning?

FX:USDSEK   U.S. Dollar/Swedish Krona
247 14 8
There's big potential upside and the trend is up. This bull flag could be a good spot to go long. The obvious problem is the spread might widen at the time of any announcements and stop you out ending up with an anticlimax at the end. Covering your long might be wise so there's no loss in the hope we might just get lucky with the spreads.

Plan B - If the market doesn't get what it wants and there is a flash crash dip I will buy into it around the 20DMA.

Riksbank

Good luck!
Bounced off the 68 fib of the last swing high & the 10DMA where I added to the position.
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''Riksbank decision: playing clever. The market was certainly expecting something from the Riksbank today and the bank largely delivered, though not in the form the market was expecting, as the bank cut rates to -0.1% versus no change expected. I think the aim with this move is not the belief that slightly negative rates will spark Swedish banks into lending more, but that negativer rates will scare away deposits and thus hit SEK for losses. I.e., it was aimed at the exchange rate.

The bank also guided the anticipated policy rate a bit lower - no surprise there. To avoid any impression of hawkishness or shying away from unconventional policy, the bank also announced a symbolic QE of SEK 10 billion, so small that it is irrelevant, but because it "breaks the taboo" by going over the threshold into QE, is suggests the Riksbank can turn up the dial at any point in the future if it feels that is necessary. Stance on EURSEK remains bullish if the pair can stay above 9.55 from here''. JJ Hardy

This is fading fast unfortunately. I took one position as profit on the high. 8.41 and above should provide resistance. Stops should be placed accordingly.
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Still long despite 61.8 Fib getting mauled. In fact I added again when I heard Riksbank Gov Ingves said intervening in FX markets ''not in any way'' the prefered measure of the central bank. BS!

EURSEK didn't fade so what we're seeing is USD weakness from the JPY move.
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Congrats on bullseye of the week!
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Thanks buddy!
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2use HexVex
Dont forget to update it and also EURSEK )
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Will do... EURSEK has support around 9.50000 which is also the 68.1 of the last swing high. If that goes I'd stay away for a while. Euro group meeting with Greece has ground to an impasse and Euro pairs and stocks are showing the strain.
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2use HexVex
EURUSD at possuble bottom - not confirmed
USD has been running wild lately and is at turning points on many charts (I.e. weights down - not confirmed)
Eruozone itself has been showing signs of upswing, and If any major question or news flash leads the way, should support the EURUSD up.
With this, does the internal swedish things affect much the rates to EUR USD ? Cause they seem to be mimmicking a long the currencies trends
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SEK looks supported to me. It only took a hit from USD when wires ran comments from Eurogroup members meeting with the Greeks complaining it was going no where. Today's price action suggests Greek probs will support the Dollar but whether this reasoning works tomorrow is anybodies guess. EURSEK bias is to the upside. What happens in Sweeden doesn't affect the Euro zone as much as what goes on in the Euro zone affecting the Swedes. They have deflation & largest household debt on record. We're sure to see some moves tomorrow as there is Swedish CPI!
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Congratulations buddy
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Thanks Tech! :)
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Heads up... Swedish CPI tomorrow morning!
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2use HexVex
Whats your bet?
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Haha...I'm very bad at 'betting'. That CPI number can come in as anything. I have one open protected long and if there is a nice dip I'll buy it. This way I wont loose.
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