The SEK has weakened sharply on Brexit and housing market concerns. However, valuations and growth are supportive for the SEK medium term.Positioning and technicals suggest this is a good time to buy SEK.
Entry level: 9.5960
Good morning traders,
I´m attempting an small long on EURSEK . Be careful with the size of this position because this pair is highly volatile .
From a fundamental stand point, yield diferentials between Euro vs Sek support this trend.
Technically the move above 200 MA , and upside breakout of the triangle favours a bullish scenario.
6 Trading Rules :
EURSEK has arrived at a trend channel top and a resistance level. It looks like it wants to break out, so watch for that. In that case the target would be the next resistance around 9.39. There have been earlier fakeouts, so would give it a day or two closing above the trendline around 9.3.
If EURSEK does not break out in the next days then it will probably just...
First of all, essential information that affects this pair:
Central bank officials have tried talking the currency down to little avail. The central bank warned on December 30 that it could intervene. At the end of last year, the euro was at eight-month lows against the krona (`SEK9.12). The Riksbank is steeping up its efforts. ...
Sweden shocked markets with a higher GDP than expected , which resulted in a bullish SEK. Technically , EURSEK is below Kumo Cloud which favours the downside. Open shorts with SL above 9.435 on a daily close
I've been looking to this chart for a long time now, and we may find a good risk/reward short entry on that currency.
On the right
SEK is now very close to bounce at least on monthly support.
On the left
Between EUR/SEK and USD/SEK, I prefer USD/SEK where we can find a good short entry in the following days.
From larger timeframe I can take a strong bearish week below 3 months low.
I am now looking at a neckline retest and there is a channel of sorts with macd divergence from the recent peaks.
Price remains below the f6 from the downflow that I have identified.
My bias is wrong if it should day CLOSE strongly below the green lines.
Spikes are not considered SL for...