Hello guys! Here we have 2 possible scenarios on EURSEK, but as trading si all about reacting correctly not predicting, we should firstly wait for a break in any direction, and only after that we can be looking for an entry at the retest. What do you think? I would consider a long position based on the other technical indicators, such as oscillators and moving...
The EURSEK pair is recovering toward key resistance zone between 10.95/10.98. It seems however, the pair has lost its strength to break above the resistance zone. From a technical point of view, the pair chart shows that it has failed twice to cross key level around 10.95.
EURSEK $EURSEK Initial Short. This is a pure momentum signal just as are every other signal I post. ZERO other factors are considered in producing this signal.
Entry reasons: EURSEK is showing momentum and confluence of mean reversion crossing up the 70 day price mean.
Exits and SL: TP and SL on chart. Move SL on TP. After TP2, trail with 0.5xATR step and 1.5xATR offset.
Intraday - We look to Buy at 10.6539 (stop at 10.6164)
The medium term bias remains bullish. We look to buy dips. Our short term bias remains positive. Downward pressure has continued and we are assessed as being in the corrective leg lower before the next rally. Previous support located at 10.6500.
Our profit targets will be 10.7529 and 10.8182...
Intraday - We look to Buy at 10.5061 (stop at 10.4602)
Preferred trade is to buy on dips. Downward pressure has continued and we are assessed as being in the corrective leg lower before the next rally. There is scope for mild selling at the open but losses should be limited. We therefore, prefer to fade into the dip with a tight stop in anticipation...
Intraday - We look to Buy at 10.5061 (stop at 10.4794)
Preferred trade is to buy on dips. Prices have continued the bullish move higher and resulted in 5 consecutive positive days. There is scope for mild selling at the open but losses should be limited. We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back...
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