By large the slow moving low volatile EUR/SEK pair has been slowly moving in an ascending channel pattern on the daily chart. However, it has experienced a distinct spike in the second half of September, which in general is a cause for caution.
Meanwhile, on a larger scale the currency exchange rate has formed a massive scale triangle pattern. The tip of the...
The common European currency recently reached the upper trend line of a junior descending pattern against the Swedish Krona. Due to that reason the pair can be considered at a significant crossroads for short term traders.
If the pair passes the resistance, which is a lone one, it would surge first to the 100-hour SMA at the 9.50 mark and later on to the...
Minor resistance at 9.5575. Price action failed to break and close above that level even after last week's non-starter from Mario and Yellen. Look for trend resumption and therefore trade as follows:
Sell Limit: 9.5270
Stop Loss: 9.5580
Take Profit: 1:3 Risk reward ratio
Of course, look to win more than you lose.
Here is my quick scan of the market.
Of course please don't just buy in Long/Short just because strength shows overbought/oversold.
There is always more room to 0 or 100.
1Day:
AUDCHF - 26 RSI
USDCHF - 29 RSI
USDSGD - 28 RSI
USDDKK - 26RSI
Honorable mentions:
USDPLN - 30 RSI Rising ATR
NZDCHF - 30 RSI
USDNOK - 31 RSI High ATR
EURNZD - 75 RSI
EURSEK - 72...
Entry @ break of second waves 0.618 retracement
Stops @ new low below first waves 0.618 retracement or below 0.500 retracement (multiple violation of strong supports) based on preference
Target @ first waves -0.272 level (third wave completion), or alternatively at previous high.
After 3 failed tests price broke out from range and in spite of returning a second...
As predicted, it found support on the previous high-trend line. SEK is releasing 'Industrial numbers in within the half hour, also EUR is releasing PMI within the hour. Depending on the released numbers, I strongly believe EURSEK is a long. Buying volume seems much stronger than selling. No cash build to be seen the last week. If it breaks above the 200MA (orange...
We can enter longs if not already in, stop loss at 9.4127. Upside is significant. We have very nice action after retesting the Brexit key level in this pair. I have a small long position I took last night, at 9.4196, with a 1 average true range stop loss. My stop is now 9.4127. I'll add if today's bar closes as an up bar.
Good luck,
Ivan Labrie.
Hey all of you
if the pair break up the poin 1 ,Buy and take your profits at TP1
then wait , if the pair break TP1 then Buy again , Dont worry and take your profits at TP2
at the other side
if the Pair break down Point 2 ,SEll and Take your profits at TP Point
I will be witt any updates , See you
NOte : that poistion can make you really rich ,You can...
If the trend keeps going as is we should expect a continuation downward to 9.45 area.
Top lines candles are good to short if no reverse or bullish signals kicks in with enough strenght.
Stay safe, and Good Luck!
(My SL is at 9.56, TP1 is 9.48, TP2 is 9.445)
