EURSEK been trading at this level for a while, where the highs was getting lower and equal lows building pressure for a break below support. That break happened today where we also see a break of the 200 Daily SMA, and i see possible continuation to the downside. This is an exotic pair and have a wide spread so you may need to play it with small lot size. SL could be smaller if you play the 1-4 H TF. Targets as shown in the chart. Happy pips!
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Time to start looking for possible bearish evidence here!
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I entered short last week on the retest, now we testing minor support and a break below this area mean more downside.
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Bearish engulfing on daily chart happening at previous structure and 200 daily SMA. Another trigger for the short idea.
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Idea still looking good, and as soon as we have a break below MS1 on daily that is the last signal to sell or sell again if you in already.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.