EURSEKEursek is making triangle.As if it might go up
This is not a investment idea just my analysis.
EURSEK
EURSEK: 1D Channel Down/ sell signal to 10.070.The pair is trading inside a Channel Down on 1D and the current neutrality (RSI = 47.632, Williams = -49.587, CCI = -47.5862, Highs/Lows = 0.0000) indicates that a Lower High level has been reached. Based on the previous Lower Low measurements, we are short on EURSEK targeting 10.07000.
EURSEK is not ready! Hurry Up and Wait!EURSEK : Price is consolidating. It will break out very soon. The double top indicates it may break out to the downside, however we need to wait for confirmation because price is at a very strong support level. EURSEK
EURSEK OutlookFOREXCOM:EURSEK This is currently in a strong uptrend, however a reversal may occur after it reached the previous high (Peak to the left). It is best to allow this to run and put on a short position after the support level is broken. Will still need to watch and make sure there is no bounce on the lower trend line.
EURSEK Longthere is a possible head and shoulders. for confirmation, need to close a candle above the neck-line. until the closing above the neck-line I do not open a position
Christmas Gift--Sell--EURSEKAnother opportunity to short, don't be fooled. Every pull back a selling opportunity with first targets at 10.00, sell at 10.291, stops at 10.35
EUR/SEK 1H Chart: Two scenarios likelyThe EUR/SEK currency pair has been trading in the falling wedge since the middle of August. Also, the pair has reached the lower boundary of the long-term ascending channel.
Currently the rate is testing the lower channel line at 10.22. If given channel holds, a reversal north occurs in the nearest future and a breakout north from the wedge follows. Potential upside target is the Fibonacci 23.60% retracement at 10.45.
If given channel does not hold, the pair continues to trade within the wedge. A possible breakout north from given pattern might occur near the 10.15 mark.
EURSEK downNice little trade. Trading EURSEK down after clear rejection of higher prices. 1st TP @ 10.25
EUR/SEK 1H Chart: Falling wedge in sightThe Euro has been depreciating against the Swedish Krona since the end of August. This movement has been bounded in a falling wedge.
The exchange rate reversed south from the upper wedge boundary at 10.41 at the end of October. Given that the currency pair is pressured by the 55-, 100– and 200-hour SMAs, it is expected that the pair aims for the lower boundary of given pattern located circa 10.26.
However, this move might not be immediate and the pair could re-test the upper pattern line located near 10.36.
EURSEK: Low gradient 1W Channel Up. Long.EURSEK is trading on a long term 1W Channel Up on a low slope (RSI = 51.043, ADX = 12.316, MACD = 0.049) that is near pricing a Higher Low (Highs/Lows = 0.0000). We are looking to utilize the next medium term bullish leg towards a Higher High. TP = 10.80000.
EUR/SEK shortDowntred channel un EUR/SEK, you can clearly see that on a daily outlook bears have the longer dicks. Also check Hanging man and shooting star candlesticks.
EUR/SEK 1H Chart: Bearish momentumThe Euro has been appreciating against the Swedish Krona after the currency pair reversed from the Fibonacci 38.20% retracement at 10.32. This movement has been bounded in a short-term ascending channel.
Currently, the pair is trading the lower channel line at 10.36. Also, the pair is pressured by the 55-, 100– and 200-hour SMAs located in the 10.39/10.45 range. Given these facts, it is expected that a breakout from the channel might occur in the nearest future. Technical indicators for the 4H and 1D time-frames support bearish scenario.
Potential downside target could be the weekly S1 at the 10.29 mark.
Adding more SEK to our portfolio=> After Sunday's election resulting in political deadlock we are set for another circus of government building.
=> Here we are expecting politics to open up an extended period of narrative for SEK where the path to normalisation (hikes expected to begin in December) will take centre stage.
=> With the focus shifting towards Riksbank and the economic expectations we are targeting a test of the 10.25xx
=> As most of you already know we are now overweight SEK in our portfolio with USDSEK and NOKSEK positions already running in profit since last week.
=> Good luck all here
Sell: EURSEK A Bear GiftThat's a three bar reversal pattern and a double tops. Last week ended up bearish with high volumes complementing the prior week inverted hammer or pin bar.
I recommend selling anywhere between 10.50-55 zone with stops at 10.60 with first targets at 10 and later 9.75.
Double top validation. Great Sell opportunuty.Price rose from double top.. made double top....now are resistance, but broken below 50 % fib.
Sell as per your convenience.... SL, TP as mentioned in the chart.
EURSEK - market is getting hysterical about the Swedish electionSEK is in free fall, divergence from 200d EMA is 11% !
EURSEK reached 9-year highs
Sept 9. election may result in a deadlock -> anti-establishment party might advance
Action:
I will wait to see even more blood and eventually look for entry setup to short EURSEK .
EUR/SEK - Possible Move - RiskyWe can see EUR/SEK drop till 10.55 as it's Friday and some long positions are being closed. Furthermore, as the currency makes lower lows, it will drive the fear of the bulls and they will close their positions to secure their profits, making EUR/SEK fall.
If you do trade this pair, do not risk more than 1% as it's very high risk.
Also, take into consideration the ~20 pip spread.
EUR/SEK 1H Chart: Euro supported by SMAsEUR/SEK has been appreciating since mid-June when the rate reversed from the senior channel. This long-term pattern was formed at the very beginning of 2017. By this Friday, the rate had returned back to the 23.60% Fibonacci retracement line at 10.47 which has worked as strong resistance this month. The upper boundary of the junior channel is likewise located there.
The pair’s current movement leads to suggest that a breakout of this resistance cluster is likely to occur, thus allowing the Euro to target another important resistance level at 10.48. This upward move should be supported by the 55-, 100– and 200-period SMAs both on the 1H and 4H time-frames.
A possible target for the following week is the monthly R1 at 10.60. Moreover, the upward tendency of the price demonstrates that the Euro might actually continue trading in line with the senior channel and thus re-test the 2018 high of 10.70.
EURSEK Buy IdeaEURSEK Buy Idea @Daily Demand Zone (10.29885 - 10.25220)
Buy Limit: 10.30094
Stop Loss: 10.24477
Take Profit: 10.37241
