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EURSEK

The EURSEK Retesting Pivot SupportWe last posted on the EURSEK on April 25th when price was showing signs of bouncing off an April pivot support. Price did indeed gather momentum and break through the resistance high of April which is now being retested as support. This retest of resistance-turned-support is very much a natural feature of this trend and one that has brought linearity to the structure of the trend. We have marked in all the levels of support that have been retested following a breakout and so what we are seeing in price now is very much a feature of this trend structure. Understanding this has huge benefits. It allows us to plan for when we will enter and compound into the positions that we have open. It allows us to eliminate the stress and not get caught up in the ebbs and flow of profit but instead focus on the process. It also allows us to understand how to place and manage our stop-losses so that we do not get stopped out prematurely and, instead, hold our positions throughout the duration of the trend. What we know want to see on the EURSEK is price hold at this current support level, bounce to the upside and break and close above the high of May. This will then suggest a trend continuation to the next resistance level of 11.0000 and when we will consider adding further compounds. This is a very attractive looking trend so far and certainly one of the better looking trends in FX in quite a while. We do not want to see this come to an end anytime soon. Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments! Sublime Trading
Long
by Sublime_Trading
The EURSEK Bouncing Off SupportWe last posted on the EURSEK on April 20th when price had broken above followed by a pull back to the drawn-in pivot support level. This pivot level so far has held strong and we are seeing strength to the upside. We want to see the momentum to the upside continue and take price through and close above the pivot high of April and ideally in the form of a bullish flag. If the bullish flag does not materialise then that will mean further patience until the breakout is confirmed. Either way, we require a breakout for a continuation of the bull trend to be likely and until that happens we will be holding tight and applying patience. If the breakout does happen then we would like to see price move towards the next key level of 11.0000 and offer opportunities to compound on its ascent. We have a long position As the trend suggests, if the breakout does happen, expect a pullback to retest this current April high before a bounce up. Embrace and expect pullbacks as they are a natural feature to price action. These are areas where many panic and lose money or get out of winning positions way too early or areas where people often are sucked in to go against the trend but fail. Those who have a solid understanding of the natural features of price will simply stand aside and apply patience and wait for price to dictate a breakout to the upside in the case of the EURSEK. Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments! Sublime Trading
Long
by Sublime_Trading
EURSEK Pullback!EURSEK was last mentioned in this post after price broke through a resistance level. Since then price has started to pull back which is a part of trading. If we look at the history of this forex pair, we can see that price tends to use previous areas of resistance as support levels so we will have to see if price will do the same with this recent support level. If price bounces off support then we should see price move up to create new highs. If the support level is broken then we may see a change in direction or it may just be a deep pullback to another support level before the continuation of the trend. Price may even move down towards the 50 simple moving average. As the overall trend is bullish and the higher timeframes are showing a bullish bias then we just have to sit back and wait for price to make the next move. Remember that in order to make profit as a trader we need to cut our losses short and maximize our winning trades. So in this case, if support levels are broken, know when to close the trade and avoid bringing emotions into it. The next few trading days may determine where price will be heading so we shall have to wait and see. Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments! Sublime Trading
Long
by Sublime_Trading
The EURSEK Triggering Long TradesThe EURSEK is new to our blogs but one we do have long positions in play on. Yesterday, we featured the GBPSEK and the emergence of a possible bull trend. The EURSEK is looking just as appealing with a slightly more advanced setup with price action and hence why our long trades were placed. Like several currencies that we have highlighted, this currency was also in a period of consolidation that dated back to last year. Price eventually broke of consolidation in February of this year which also took price above the key round number of 10.0000. With this level now acting as support, we wanted to see a retest of this level which did happen in March. Since then, price has bounced off this level and has offered multiple entry points in the form of pullbacks and breakouts as this bull trend has continued. The EURUSEK has been trending very well since bouncing off the support zone that involved the 200SMA at the end of January of this year. The trend structure that has emerged is linear with clean pullbacks that have retested the resistance-turned-support levels. It is very much early days on this currency. We would like to see this trend structure continue all the way through to the all time high in 2009 which was just short of 12.0000, offering strategic opportunities to compound on its ascent. If 12.0000 resistance is broken then 15.0000 would be the next key level. This is certainly one of the more appealing trends in the FX market right now. Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments! Sublime Trading
Long
by Sublime_Trading
EUR/SEK 4H Chart: Bullish momentum allaysEUR/SEK has been driven by upside momentum, as it has surged 6.41% since early February. This movement has been bounded in an ascending channel during this time. The Euro was lingering slightly above the senior channel for two weeks prior to appreciating substantially early on Thursday. This movement has pushed the rate closer to the upper line of the junior channel located near the 10.50 mark. Technical indicators suggest that some upward movement could occur today and early on Monday. However, the pair still has to overcome a resistance cluster set by the monthly R1 and the weekly R2 at 10.38. A medium-term trend-line is likewise located in this area. In general, the base scenario favours the prevalence of bears as early as next week, as the pair should make a correction south after such a massive surge. The nearest support is set by the 55-hour SMA at 10.30.
by UnknownUnicorn890690
EUR/SEK 1H Chart: Approaches strong resistanceThe common European currency is trading in three channels simultaneously against the Swedish Krona. The dominant pattern which has guided the pair during the previous three weeks is a medium-term channel. Its lower boundary was tested on March 20 when the Euro reversed from the 10.05 level. The rate has since edged higher towards the monthly and weekly R1s at 10.25. Technical indicators demonstrate that the pair might still appreciate during the following session. Gains in this case could be capped near the senior channel at 10.27. However, the lost bullish momentum during the previous three sessions might mark the beginning of a new wave down. This scenario should be confirmed by a breakout of the 55-hour SMA near 10.19. A possible downside target within the following two weeks is the 10.10 area where the 200-hour SMA, the weekly S1 and the junior channel are located.
Short
by UnknownUnicorn890690
EUR/SEK 1H Chart: Some upside potential still likelyEUR/SEK is being guided by several patterns, the most important of which are two opposing channels. The Euro breached the upper line of the more senior pattern earlier in this session when a strong hourly surge allowed it to move past the 9.96 mark. This upside breakout of the four-month channel suggests that the bullish sentiment might continue dominating the market in line with the junior formation. However, some minor correction south is still expected, as the pair needs to relieve its overbought pressure. A possible point of reversal could be the 55-, 100– and 200-hour SMAs and the 61.80% Fibo near 9.92. The nearest upside target within the following sessions could be the 10.03 mark. Given that this is likewise the highest level in several years, the Euro is likely to surrender under the bearish pressure near this high and begin depreciating in the medium term.
Long
by UnknownUnicorn890690
EUR/SEK 1H Chart: Pair expects breakoutA falling wedge has guided EUR/SEK since mid-November. It seems that this pattern is gradually reaching its maturity, thus pointing to a soon breakout. Falling wedge is generally a continuation pattern that should allow the Euro to resume its previously-existing up-trend. During this session, the rate was stranded between the 55-, 100-, and 200-hour SMAs and the weekly and monthly PPs. All these levels are providing strong barriers; thus, it is likely that the direction of the breakout would prevail for some period of time. In case bulls take over the market, a near-term target could be the psychological 9.90 mark where the 23.60% Fibo retracement is located.
Long
by UnknownUnicorn890690
EURSEK short There is something interesting about this chart. GAP (green block) from Daily chart created quite nice support/ressistance area. I marked with two eclipses point where pair was rejected when in touch with this area. This price action is suggesting strong bear trend which should move pair towards south in the next month or more. I placed on the chart Fibonacci retracement and 61.8% stopped attempt to move north within the last month. Eursek created double top on the big chart and also magic number 10 was reached but not breached and after consolidation around this number we can clearly see strong rejection. It is wise to wait for the pair to go higher as it is trading on its support/ressistance and sell it when 200 Ema will stop Swedish corona value depreciation.
Short
by Krystiannwk
EUR/SEK 1H Chart: Pair trades in falling wedgeEUR/SEK has been trading in a channel up since late 2016. During its last wave down which started mid-December, the common European currency has likewise formed a falling wedge. It tested the bottom boundary of this pattern on January 5 and has since edged slightly higher. From technical point of view, the Euro should approach the upper wedge line in the 9.87/89 territory. Meanwhile, the pair has been currently stranded between the 55-, 100– and 200-hour SMAs in a diminishing trading range. It is likely that a breakout from this area would determine the subsequent direction. Technical indicators show that the southern barrier might surrender under the bearish pressure, thus possibly sending the Euro down to 9.74 area where the monthly S1 and the weekly S2 are located. An upside breakout, however, could result in a test of the 9.89 mark within the following week or more.
by UnknownUnicorn890690
EURSEK Lets short it for 1500 pips!Trading method: RSADVANTAGE Stage 5, accurate system manually forward tested over 3 years designed to stay out of ranging markets and only target strong trends suited for swing trading. This system is made of custom adaptive volume indicators and Oscillators that properly detect trends very early and provides exit signals at dynamic S/R zones once the trend has ended. // Average yearly pips gained is 40k per pair on D1 charts alone. I have provided a similar limited version of the system on Trading view to help traders visualize the strategy. EURSEK To open SHORT positions for EURSEK , it is required: In this situation our system indicators to confirm trade entry confirmation for movement to the downside but if the market trend continues to range this signal will become invalid. Market execution for entry, I will confirm signal once the conditions have been met. Risk Description: Once signal is confirmed we will excecute more positions on the position on H1 and 30M charts. Minimum 1500 pips will be up for grab with small risk SL at swing high. Target 2500 pips Profit expectations: 1-4 day trade length expected before hitting profit target I will post exit strategy when signal receives a exit signal.
Short
by UnknownUnicorn1372988
EUR/SEK 1H Chart: Rate weakens from yearly peakThe common European currency has been appreciating steadily against the Swedish Krona since early September. This movement north has allayed during the past three weeks, as the rate has been lingering slightly below the 2010-2017 high of 10.03. This peak was reached on December 12, and the Euro has since edged lower. The same bearish sentiment is likely to prevail during the following weeks, as well. Even though technical indicators point to a possible increase in price in this session, gains are unlikely to exceed the aforementioned high. In addition, the pair faces the combined resistance of the 200-, 55– and 100-hour SMAs and the weekly PP that could hinder or even halt any intentions to push higher.
by UnknownUnicorn890690
EUR/SEK 1H Chart: Pair moves away from 2017 highThe common European currency has appreciated substantially against the Swedish Krona within the past three months. During this time, an ascending channel was guiding the pair up until a 2017 high of 9.9901 was reached on November 21. The Euro has likewise formed a two-week junior channel. Its bottom boundary has had three confirmations, while the upside was tested early today for the second time. As apparent on the chart, the pair was reluctant to move past the 9.9270 area for the last week. The same situation occurred in this session, as well, before a sudden upward surge breached this channel. The rate could go for the senior channel circa 9.90 today. However, the combined support of the 55-, 100– and 200-hour SMAs is likely to hinder further decline. Meanwhile, technical indicators suggest that the pair could respect the junior channel and thus breach the senior one in a week.
Short
by UnknownUnicorn890690
EUR/SEK 1H Chart: Euro tests 200-hour SMAFollowing a five-week appreciation against the Swedish Krona in an ascending channel, the common European currency has formed a channel in the opposite direction and is thus gradually moving lower. The pair reached a 2017 high last week when the rate reversed from the 9.8044 area. This suggests that a decline in both medium and long term is a likely option. The rate is currently testing the upper line of the junior channel—an area which is likewise reinforced by the 200-hour SMA. From this perspective, the rate should rebound from the this resistance and edge lower. However, given the steepness of the descending channel, this formation is unlikely to hold for long. Technical indicators flash mixed signals, but the overall tendency seems to point southwards. The rate might go as low as the monthly PP circa 9.67 during the following trading sessions prior to making a minor recovery.
by UnknownUnicorn890690
2
EUR/SEK 1D Chart: Channel in TriangleBy large the slow moving low volatile EUR/SEK pair has been slowly moving in an ascending channel pattern on the daily chart. However, it has experienced a distinct spike in the second half of September, which in general is a cause for caution. Meanwhile, on a larger scale the currency exchange rate has formed a massive scale triangle pattern. The tip of the triangle is located almost at the 9.50 mark and in the year of 2018, which means that the triangle might hold for a long time. Although one should watch for possible breakouts near its borders. In regards to shorter term trading, the pivot points and the daily simple moving averages are a good guide.
by UnknownUnicorn890690
EUR/SEK going down on all scalesThe common European currency recently reached the upper trend line of a junior descending pattern against the Swedish Krona. Due to that reason the pair can be considered at a significant crossroads for short term traders. If the pair passes the resistance, which is a lone one, it would surge first to the 100-hour SMA at the 9.50 mark and later on to the resistance cluster located from the 9.5110 mark to the 9.5165 level. On the other hand the rate might fall and search for support in the 55-hour SMA at the 9.4825 level. In addition, if the 55-hour SMA continues to decline, it will be strengthened by the weekly S1 at the 9.4796 level.
Short
by UnknownUnicorn890690