In the duel of the Nordic nations between the strong Norwegian Ragnar (NOK) and the fierce Swedish Earl (SEK), only one can survive.
I am betting my gold coins on the Norwegian krone for the following reasons:
- NOKSEK is fundamentally undervalued
-> fundamentally the pair should rather be trading at 1.04 - 1.05
- Norges Bank surprised EVERYONE...
The USDSEK pair followed our trading plan to perfection last time we made a sell call on it (October 06 2023, see chart below) as it completed the Head and Shoulders pattern and aggressively declined to hit our 10.4500 Target:
At the moment the price is ranging within the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line) being Support and Resistance...
EURSEK may try to cost 11 krones again soon on a strong weekly downtrend after a triple top on a weekly chart perspective.
Plus, check this out.
Sounds pretty interesting.
* research.sebgroup.com
I personally may re-enter a couple of times if my SL is hit, but who knows.
USDSEK crossed over the LH trend-line as well as the 1D MA50, ending the 1 month pullback and turning the 1D timeframe bullish again (RSI = 57.915, MACD = -0.004, ADX = 28.535). According to two same fractals within 2023, we should be expecting at least a test of the Resistance, if not the 1.236 Fibonacci extension. As long as the 1D MA50 holds, we are short term...
We haven't looked at the USDSEK pair in exactly 1 year but it was that Higher Higher rejection (see chart below) that gave us the best sell opportunity since COVID:
On the 1D time-frame an Ascending Triangle has emerged since and the price has been rejected on the latest September 21 Higher High. We can see the emergence of a Head and Shoulders pattern that...
USDSEK is trying to confirm a Right Shoulder of a Bearish Head and Shoudlers Pattern at the PCZ of a Harmonic Bearish AB=CD. If it is able to goback down from here and break through the neckline then we could see action similar to what we saw on the EURHUF.
We have 3 instances of Bearish Divergence just pass the PCZ of the Bearish Shark and it now looks to be testing those highs perhaps for the last time before it begins to fall.
With the global economy showing more resilience and the Fed slowing its pace of tightening, we believe EM currencies can outperform relative to G10 peer currencies this year. Attractive real yields should result in market participants accumulating exposure to developing currencies, while our assumption for contained banking sector stresses should lead to improved...
USDSEK - Let's sit & wait...
Most favourite plan to do on the weekend is my weekend analysis. The market is close, going through higher TF, getting into the zone and ready to crush another week of trading!
USDSEK - Another trading pair I occasionally trade. I feel the behaviour of SEK is very interesting, i'd say I do trade relatively small on this pair but the...
The USDSEK pair has been rising parabolically all year due to the well-known fundamental reasons empowering the USD amidst the high inflation. The price has finally reached though a technical level that we have to consider as it has been forming long-term tops over the past 7 years.
As you see on this 1W chart, the Resistance we are referring to is the Higher...
We haven't updated the USDSEK pair for over 2 months and on the long-term it still looks bullish. This chart is on the 1D time-frame, where the price reached again the 2.5 Fibonacci extension as on the July 12 High. With the 1D RSI hitting the Lower Highs trend-line twice, which is the level where all price Highs have been made since November 24 2021, it is very...
Right now EUR/SEK is trading at strong support, which goes in line with Fibonacci and Volume Profile indicators. As long as daily close remains above this support area, we should see the formation of the bottom. Potentially, this is the beginning of a medium-term rally, towards 127.2% Fibs
They may speak different languages but they are identical.
Now that´s a lovely chart there, is like to good to be true.
Be wise, don´t work for money make money work for you.
The USDSEK pair had an excellent technical bounce on the 1D MA50 (blue trend-line) following our previous analysis:
As you see that was our 1st suggested buy entry, so if you took the trade you can book (partial) profits and enter on the next pull-back near the diverging Higher Lows trend-line. The long-term entry is now located on the 1D MA200 (orange...
