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EURSEK

EURSEK upside continuation 10.85 11.5 targetsEURSEK made a double bottom, looking at the weekly and monthly charts we can see that after breaking multi year high it retested it. The trend is obviously bearish on the Krona. Buy the dip... Sweden economic future is grim. The price managed to break the first resistance and make a bull flag. If it breaks the second one it could easilly go retest this decade high (around 10.5-11). It could go past that but then in the 11-12 area price is at ath and it might be a formidable resistance. The USDSEK situation is a little different. It is retesting ath and has not bounced that much yet. EURSEK is more relevant imo. USDSEK will follow... I moved my stop loss up, but am I not adding to my winner due to europe regulation restrictions. Need my capital for other things. Interesting trade: I will take profit but can aim higher. Maybe.
Long
by MrRenev
2
Swedish Krona time for a big bounceING bank keeps spreading fear about the SKrona. "Their central bank is dovish, will put it under pressure". They announced yesterday they reached their targets of 10.60, this could be when every one takes profit. On the higher time frames, we can see there is a resistance in this area, might be a little higher depends how you draw it, but it is approximately in that area. So I am not aiming for the SEK to gain strength long term, but I am betting on a bounce. Also, the EURO is no longer on an upity upitytrend, might dump soon. The SEK right now is not super negative, it is neutral (and at ING traders target and at resistance), until the 12 March (When the Swedish bonds mature). I see no reason to short the SEK until then. If it is neutral and the euro bearish well... The euro has been in a bear market for almost 1 year now. A dump looks imminent.
Short
by MrRenev
1
a micro analysis on eursekfollowing our last analysis on eursek where we expect a big drop, we expect eursek to behave the very same way it did the last two peaks before drop last months. to target the exact point of reversal during those endless ascending move (generally heralding an important reversal) we want to see two things : 1) the upper bollinger band on 4h time frame must draw an upper parabolic maximum 2)the price curve must in a last attempt (typical stop loss hunting) impulsively touch this point and reverse immediately regarding how eursek is near of such a situation this should take place this monday or at the latest thursday with a flat monday to bring confusion first. we shall do nothing before seeing that, if it crosses badly this upper bollinger band we won't be caught, if it falls even without doing so we won't believe in the reality of the fall, experience on eursek tells us to be cautious and act if and only if those two conditions are met before
Short
by lapin_eliott
eursek, all or nothingeursek has been perfectly bouncing on a support 3 times with a bounce losing intensity each time it hit the support, then it broke and started confidently a down move inside a new channel below. of course now we have through a perfect alignment a retest by below of this previous support, exactly at this point the DMI reaches an extreme value, we do not see how eursek can do anything else than dropping sharply now, this move is also supported by what we see on noksek, usdsek, eurnok and eurusd. this is very simple, if eursek surprisingly cross confidently the 1.53 1.54 area, we will see it coming very soon and then we freeze everything, the loss will be minimal, otherwise we can short eursek massively from where it stands
Short
by lapin_eliott