Price should make new lower low but we will see a reaction where I set TP
Top Absolute Correlation 4 hrs
1 EURSEK - USDCZK 89.4%
2 EURSEK - GBPSEK 88.9%
3 EURSEK - SEKJPY -88.7%
4 EURSEK - EURPLN 88.2%
5 EURSEK - USDCAD 87.5%
The pair will continue to move lower in the following days towards a major support line. Investors of the single currency were whipsawed following the disappointing results from the EU member states which ended the EUR/SEK rally. A month after the coronavirus became pandemic, analysts gave an outlook to economies who suffered from the “Global Lockdown”. The...
EUR_SEK BOKOKE THE RESISTANCE. SPIKED. RETESTED SUPPORT.
NOW BROKE OUT OF RESISTANCE.
It might move in a triangle fashion
Consolidating for an upwards move
Pick it up from the support levels outlined
LIKE and SUBSCRIBE for QUALITY
The pair will reverse back towards a strong support line after it failed to break out from an uptrend resistance line. The admission of international students in Sweden was up by 13.0% despite the ongoing coronavirus pandemic. The 2018-2019 batch has contributed around $122 million in the Swedish economy. The government said the increase in the number of admitted...
USDNOK has been one of my favourite Dollar pairs I have kept tabs on ever since the DXY was showing signs of a reversal. This market structure analysis can be used for ANY MARKET since ALL MARKETS move the same three ways.
USDNOK was in a long downtrend with multiple lower highs and lower lows. Price then began to base/range/consolidate. This was a sign that the...
Compared to other currencies in the region, the Swedish krona has had more chances against the euro in the previous sessions. However, the tides are somehow shifting, and the common currency is expected to redeem itself against Swedish krona. The strength of the single currency is mainly to the risk appetite reignited by the recent progress made by Washington and...
Price is channeling down nicely on the daily. We had a break and retest of a horizontal trendline and price is now consolidating/forming a nice small bear flag.
I would look for a 1:1 or 1:1.5 setup just to break the weekly lows.
Trade with care!