Possible counter position in USDSEK
As the pair USDSEK has set lower highs and lower lows last couple of days, we have now reached 76.4 FIB retracement from recent high and low around 8.23 area. This should offer a nice possible counter position (long), but bear in mind that the trend in the short term is still down.
In that matter, manage risk either by smaller trade position or tight stop. The possible trade idea is to go long from current levels (8.23+) for a possible retest either 8.30 (target 1) and 8.35 (target 2). Stop loss should be executed if the pair closes below 8.22 in 4H timeframe chart.
In that matter, manage risk either by smaller trade position or tight stop. The possible trade idea is to go long from current levels (8.23+) for a possible retest either 8.30 (target 1) and 8.35 (target 2). Stop loss should be executed if the pair closes below 8.22 in 4H timeframe chart.
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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.