The pair is poking the upper vortex and I see in other pairs that dollar is getting strong and the stock market may drop sharply. I don't know if is going to break up this time but if is rejected is highly probably that is going try again and before another attempt I would open another long position.
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've recently seen USDSEK consolidate in a descending triangle after a sharp drop from 10.55 highs.
Sellers have been gaining traction as seen from the lower highs each time buyers have bought the 10.23 support.
Market has now broken below 10.23 support and if we get a rounded retest we could see sellers fully dominate and the descending triangle pattern plays...
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...
So, have you been keeping an eye on the USD/SEK pair lately? It's been pretty interesting to watch. Even though the FOMC meeting had an impact on the pair, it didn't completely break down. In fact, there's a buy signal on the daily Stochastic, which suggests that the pair could be turning bullish.
What's even more exciting is that the USD/SEK pair is currently...
This week New was the beginning of the great volume I've missed seeing in a while trading USDSEK in 2023 Currency markets.
The last three trading days have been Short trades during London session and U.S. session conversion which led to three consecutive trading days shorting during this time.
Instock traders :Jrow in this scenario have put himself in great...
Market has broken below the horizontal line suggesting that price action is due for a temporary reversal of the most current bullish push. Market bias is short term Sell.. Target is shown
Market analysis of currency markets.
The Main driving force of the U.S. Dollars currency is the DXY symbol, this; U.S. dollar Currency Index is the base of one of the most powerful currencies in the world.
In this video Instock Chartist Jrow demonstrates how a Sunday at the office with a view overlooking Southside Wal streets firms Currency sector.
In this update we review the recent price action in the USDSEK and identify the next high probability trading opportunities and price objectives to target
USDSEK is likely to pull back if the pair moves higher near 10.72. As long as USDSEK trades below 10.818, the outlook remains bearish within the first half of 2023.
Resistance zone = 10.726, 10.748 and 10.818
Despite some slow down of inflation in Sweden, this one looks to be ready to break down from a triangle soon. If FED dissapoints to bring more hawks after US PCI miss last week, I think this one can easily break down into a fifth wave.
We can see price came down impulsively and begins to range, (bear flag formation), will look for an entry on the third touch on the resistance of the flag for short
USDSEK price action has completed two touches on a potential expanding formation whilst forming a structure within in the form of an ascending channel. The potential third touch on the ascending aligns with the potential third touch on he outer expanding structure..Will be watching price action closely for potential shorts .
The trend of The USD in heavy relation to USD Economy's Strength and direction.
Forex Currency pairs: USDCAD, USDJPY, USDDKK, USDSEK Follow the lead of the DXY; U.S. Dollar Currency Index
The USD has Been In a Bearish Trend Since September 28th, 2022.
The floor of this trend has not been yet identified and confirmed with high timeframe rejections.
TVC:DXY
