The Swedish krona is among the major currencies that are susceptible to the latest developments in East Europe alongside the Euro, and both have been a basis for market sentiment surrounding the conflict on markets and economies.
On March 7, as the third round of peace talks capped off without any breakthroughs and as energy prices surged to a 14-year high, the...
📌 SEK for the Yearly Close
In general the following flows are working flawlessly, sellers have recaptured the control and are bringing about a lot of pressure on the main macro targets issued at the beginning of 2020. One indication of the weakness is clearly the USD devaluation, and is represented by the attacking side rushing to SEK.
Introducing...
We are entering into short-term technical flows for the weekly closing range after Fed flows come to an end. The growing concerns over rising virus cases will skyrocket over this weekend, expecting a flooding of negative news from mainstream media which will put Western European countries back into the crosshairs.
For the technicals, SEK is trading at a very...
A timely update to the EURSEK chart with 2020 flows entering into play as widely anticipated. Lets start by reviewing the concerning Macro Map in the diagram:
In the longer term, positional swings come down to a struggle between patience on the one hand and greed tendencies on the other. In this all-encompassing battle, economic strategy, though important in...
📍 USDSEK Long Term Macro Map
After the " Moment of Truth for SEK " flow, which was so difficult with its own inherent positional issues, the next update here should appear all too straightforward again. Of course a well planned macro flow does not have to last forever; a dollar devaluation swing which only crops up occasionally, in fact can even threaten the...
We are trading the highs of a multi decade monthly channel, I am expecting a significant reaction with flows entering into Fed positioning mode for a 25bp cut later this month.
Rather than SEK strength a reaction move to the downside here will come from dollar devaluation from Fed intervention. For those still holding EURSEK longs the divergence will be telling...
Time for another forward walk in 2020, this time the focus is EURSEK. I am tracking for a year of "two halves" with the first providing support for SEK and a lot of demand for the most undervalued G10 cross.
On the SEK side lets start with the Long-term chart:
On the EUR side lets start with the Long-term chart:
For the Swedish Macro details, Sweden is...
USDSEK & EURSEK charts are forming a top formation, which is the end of the very extended downside trend for the SEK (483 days).
Some kind of a mean reversion is expected towards the 9.22 area by Aug-Mid Sep.
For more fundamental points I wish to recommend Torbjörn Isaksson analysis
=> As is the case in EURUSD any pullback from here will be viewed in our books as corrective. The bounce from Feb has looked very impulsive and is underpinning this current uptrend.
=> Any retrace should be capped at 0.9789 and as such waiting for support levels here seems prudent at 0.9905 and 0.9835.
=> It will take a break of the 76.4% to open up the highs and...
There is a 3 bar reversal pattern in the monthly chart with oversold stochastics. For long term traders look to buy after the close of this month IF and ONLY IF November candlestick closes as a B ull bar .
weekly chart is pretty strong too, look to buy with any correction in the 4 Hour chart.
for day traders, trick is to buy only after a candlestick closes...
