Short CADSEK @ 6.7334; TP @ 6.5979, SL your choice
Growing divergence after hitting the weekly barrier at 8.5290 suggests sellers are returning again. Expect a breach of the trend line and a correction back to 8.3000, 8.1570 and roughly 8-even over the next days and weeks. Although the longer term is more or less neutral, broader USD weakness does support an aggressive short-entry strategy. Near term trend:...
The US Dollar has been trading in an ascending channel against the Swedish Krona since the beginning of 2018. The pair has appreciated 7.44% since its 2018 low of 7.8233, thus breaching the senior channel on March 28. The Greenback continues to diminish its trading range and move in line with the wedge. The most recent test of its upper boundary occurred late on...
Long SEKNOK @ 0.9250' TP @ 0.9440, SL your choice
EUR/SEK has been driven by upside momentum, as it has surged 6.41% since early February. This movement has been bounded in an ascending channel during this time. The Euro was lingering slightly above the senior channel for two weeks prior to appreciating substantially early on Thursday. This movement has pushed the rate closer to the upper line of the junior...
Short CADSEK @ 6.705; TP @ 6.5712, SL your choice
Short GBPSEK @ 11.8228; TP @ 11.5864, Sl your choice
Short CADSEK @ 6.5979; TP @ 6.466, SL your choice
As you can see we had some nice action here with this SHS formation right at a rising trendline + a new formed s/r zone which pushed price to a new high here . Now Price is running into another s/r zone which is not confirmed yet but i will look for a confirmed touch before taking a long . On the other hand a break could lead to short in direction of the...
The common European currency is trading in three channels simultaneously against the Swedish Krona. The dominant pattern which has guided the pair during the previous three weeks is a medium-term channel. Its lower boundary was tested on March 20 when the Euro reversed from the 10.05 level. The rate has since edged higher towards the monthly and weekly R1s at...
The historical price movement of USD/SEK demonstrates that the pair has a tendency to trade in neat channels. The past three weeks have not been an exception. This latest junior pattern was formed late in February when the US Dollar reversed from the upper boundary of a medium-term channel circa 8.32 and began edging lower. Even if this short-term pattern fails...
Long CADSEK @ 6.2643; TP @ 6.3895, Sl your choice
EURSEK looking to bounce on the trend line to continue up long. if it does break the trend then opportunities for short will arise
ENTRY 8.33400 SL - 8.34400 TP - 8.08210 TP - 7.82600 Red Dotted lines are temporary S&R levels Orange lines are more well respected S&R levels
I take this trade not because dollar strong, but swedish krona weakness.. and I make correlation with EUR/SEK and GBP/SEK too...
EUR/SEK is being guided by several patterns, the most important of which are two opposing channels. The Euro breached the upper line of the more senior pattern earlier in this session when a strong hourly surge allowed it to move past the 9.96 mark. This upside breakout of the four-month channel suggests that the bullish sentiment might continue dominating the...
Following a reversal from a seven-month high of 8.52 mid-December, the US Dollar has been moving in a channel down against the Swedish Krona. The upper boundary of this pattern was tested on February 9—a move which was followed by a slight period of depreciation. It seems that the pair is currently standing at the crossroads of two scenarios. On the bearish...
A falling wedge has guided EUR/SEK since mid-November. It seems that this pattern is gradually reaching its maturity, thus pointing to a soon breakout. Falling wedge is generally a continuation pattern that should allow the Euro to resume its previously-existing up-trend. During this session, the rate was stranded between the 55-, 100-, and 200-hour SMAs and the...