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USDSEK

Reversal set for last week’s worst performing pairs? USD/SEKBy the close of last week's trading session, the top 3 worst performing currency pairs came out to be the USD/PKR (-4.91%), NZD/USD (-2.61%), and USD/SEK (-2.04%). To help determine the direction that these pairs will take this week, we will use the Hacolt Indicator (Vervoort Heiken-Ashi Longterm Candlestick Oscillator). Will the pairs continue to slide, or are they primed for a rebound in response to the huge selloffs? The Hacolt Indicator helps to confirm the strength of trends. When the indicator presents green, the market is expected to trend upward, and when it is red, it is expected to trend downwards. It can also be used as a trend switch signal, suggesting a potential turnaround or a pullback on the current trend. Starting with the USD/PKR, just like the USD/SEK, the Hacolt Indicator shows a green bullish signal. However, strong resistance at 240.00 created a double top formation on the daily timeframe, which resulted in last week’s downward move for the pair. The price may head towards 224.00 and even 217.50 if the Hacolt indicator gives a red bearish signal this week. For the NZD/USD, the Hacolt Indicator, on the other hand, shows a red signal which indicates that the pair is still on a downtrend. The trading candle last Friday also ended closing below the 0.5626 support area, which may suggest that the price for this week for the NZD/USD would likely continue going down, potentially targeting the lows from March 2020 at 0.5469. Lastly, the USD/SEK, and the Hacolt Indicator shows a green signal on the daily timeframe, possibly indicating that the uptrend is still in favor. This indication contrasts with the current downside move in the candles. If the Hacolt Indicator gives a bearish red signal this week, we might see the price retesting the 10.80 price level. A final target might be around the 10.45 support area. Overall, the trend is still bullish though, so look out for support formation in key psychological area around 11.00.
U
by BlackBull Markets
USDSEK Pull-back in September but bullish long-termWe 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 probable that this is the new High of the current bullish sequence. All Highs then pulled back to at least the 1D MA50 (blue trend-line), with the Buy Zone since November 10 2021 being within the MA50 and the 1D MA100 (green trend-line). The 1D RSI has again a Zone indicating where we can buy the pair after the pull-back is completed. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
Short
by TradingShot
2
USD/SEK Long from 61.8% Fibo and Dynamic Trendline | BUYThe USD/SEK comes from a Strong Uptrend where see the price harmonically makes Swing every time higher, following the Swing Trading strategy from the manual. In The last Period, the price after a Pullback on the 61.8% Fibonacci had a strong Bullish impulse and meanwhile the stochastic it's just exited from the oversold, and the RSI already in Bullish our clues are for a new Long setup looking at the price reaching around the value $11.00
Long
by DAY_PROFITS
USDSEK Still bullish long-termThe 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 trend-line). We expect the pair to test the 10.4850 COVID High by the end of August. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
Long
by TradingShot
3
USDSEK Best levels to buy.The USDSEK pair has turned parabolic in these past 12 months and is now supported by a diverging Higher Lows trend-line. The ultimate target is the 10.4850 High of the March 2020 COVID pump, but as the 1D RSI is hitting Lower High Resistances, it is best to wait and buy lower upon a pull-back. Best levels to do so are within the 1D MA50 (blue trend-line) and the Diverging Higher Lows and if that fails, then on the 1D MA200 (orange trend-line). -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
by TradingShot
2
Is the krona a new safe-haven currency?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 fell to its lowest in nearly two years at almost 10 SEK per USD. Dovish Riksbank The Swedish central bank’s (Riksbank) recent dovish stance also weighs on the SEK. At its February monetary policy meeting, Riksbank kept interest rates at 0% and maintained the volume of its asset purchases unchanged. The decision dealt a further blow to the SEK, knocking its value by 2% shortly after the rate decision. However, the pressure is growing on Riksbank Governor Stefan Ingves to hike rates as the central bank acknowledged the rising inflation rate as a result of higher energy prices. Central bank peer pressure Still, the central bank does not expect energy prices to continue to rise this year, it said in its most recent policy report, adding that inflation will likely fall back. The central bank now expects a tightening of its policy in the second half of 2024, earlier than its previous forecast issued in November, amid peer pressure as the Bank of England recently hiked rates again to back to pre-pandemic levels, while the US Federal Reserve penciled in rate hikes at each of its remaining policy meetings this year. Riksbank expects to raise its repurchase rate — or the interest it charges to commercial banks for short-term borrowings — to 0.06% in the first quarter of 2024 and to 0.31% by the first quarter of 2025. Weakening SEK In its February policy report, Riksbank acknowledged that the SEK is losing its value from its November 2021 levels based on the krona index. The central bank attributed the weakening of the krona to the rising turbulence on the financial markets. "Variations in the Swedish krona exchange rate usually coincide with changes in risk appetite on the financial markets. In the coming years, the krona exchange rate is expected to slowly strengthen,” the central bank said. Even before the COVID-19 pandemic, between 2013 and 2020, the SEK depreciated sharply due to lower interest rates and Riksbank’s quantitative easing. In an earlier report, the Riksbank said the depreciation of the SEK during the said seven-year period "is a puzzling phenomenon for an advanced economy” as the krona kept depreciating even when the interest differential stabilized. Growing use as a reserve currency Although Sweden’s economy is fairly smaller than its neighboring European countries including Germany, the UK, France and Italy, the Swedish krona has been classified as a safe haven currency for many foreign exchange watchers. The IMF sees the SEK as the sixth non-traditional reserve currency globally next to the Australian and Canadian dollars, the Chinese renminbi, the Swiss franc, and the Korean won. The SEK is becoming increasingly viable as a reserve currency as the US dollar’s dominance has been steadily declining over the past two decades as central banks turn to non-traditional currencies, according to a recent report by the International Monetary Fund. The share of the US dollar in official reserve assets has decreased over the past two decades, which the IMF attributed to the increased share of non-traditional reserve currencies like the SEK, it said.
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by BlackBull Markets
USDSEK Potential for Bullish Bounce | 31st March 2022We see the potential for a bullish bounce from our buy entry at 9.23337 in line with 78.6% Fibonacci retracement towards our Take Profit at 9.38103 in line with 100% Fibonacci Projection and 78.6% Fibonacci retracement. Our bullish bias is supported by stochastic indicator where price is trading at support level. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
Long
by Rockqet
USDSEK H4 Potential Bullish Momentum | 18th March 2022Price is near buy entry level of 9.46834 in line with 23.6% Fibonacci retracement . Price can potentially move towards the take profit level of 9.75972 in line with 61.8% Fibonacci projection and 50% Fibonacci retracement . Our bullish bias is supported by stochastic indicator as it is near to the support level. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
Long
by Rockqet
USDSEK H4 Potential Bullish Momentum | 16th March 2022Price is near buy entry level of 9.56198 in line with 50% Fibonacci retracement. Price can potentially move towards the take profit level of 9.76677 in line with 78.6% Fibonacci projection and 38.2% Fibonacci retracement. Our bullish bias is supported by stochastic indicator as it is near to the support level. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
Long
by Rockqet
USDSEK H4 Potential Bearish Continuation | 15th March 2022Price is near sell entry level of 9.57412 in line with 50% Fibonacci retracement . Price can potentially dip to the take profit level of 9.44253 in line with 61.8% Fibonacci retracement. Our bearish bias is supported by the price trading below the Ichimoku cloud indicator. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
Short
by Rockqet
USDSEK Potential for Bullish Bounce | 11th MarchPrice is near Buy Entry level of 9.67285 in line with 38.2% Fibonacci retracement and 78.6% Fibonacci projection. Price can potentially bounce to the Take Profit level of 10.03187 which is a key graphical swing high resistance. Our bullish bias is supported by price trading above Ichimoku cloud indicator. Alternatively, price might dip to the Stop Loss level of 9.48163 in line with 61.8% Fibonacci retracement. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website
Long
by Rockqet
Short Vision on USD SEK for 07/03/2022Hello Dear Traders, USD-SEK is finally going down after the breakout from the rising support, Just as I predicted yesterday, already 100 pips profit for the last two days. You find below my analysis for USD/SEK, the currency pair is in the sell zone. I expect the price to fall. According to my set of rules, in the M30 frame USD/SEK will fall to 9.88 as I am showing in my chart. Our Daily Goal is 9.86. Currently, USD/SEK is moving towards the resistance level 9.95,where there is some liquidity from this value we are looking for short-term selling opportunities of USD/SEK. Good Luck and enjoy your Bearish Market for today. Entry:@9.95 TP1: @9.91 TP2: @9.88 TP3: @9.86 SL: @9.98 As mentioned on previous posting, we oscillate daily with the market based on Human Behavior and Sentiment. Feel free to share your thoughts and opinions in the comment section below, I will be glad to discuss my friends!
UShort
by HugoAJROUCHE
Long Vision on USD SEK for 04/03/2022Hello Dear Traders, You find below my analysis for USD/SEK, the currency pair is in the sell zone. I expect the price to fall. According to my set of rules, in the M30 frame USD/SEK will fall to 9.85 as I am showing in my chart. Our Daily Goal is 9.83. Currently, USD/SEK is moving towards the resistance level 9.91,where there is some liquidity from this value we are looking for short-term selling opportunities of USD/SEK. Good Luck and enjoy your Bearish Market for today. Entry:@9.91 TP1: @9.89 TP2: @9.87 TP3: @9.85 SL: @9.96 As mentioned on previous posting, we oscillate daily with the market based on Human Behavior and Sentiment. Feel free to share your thoughts and opinions in the comment section below, I will be glad to discuss my friends!
UShort
by HugoAJROUCHE