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EURSEK

EUR/USD Steady Amid Dollar WeaknessEUR/USD maintains a higher level but remains below 1.0600 in Wednesday's Asian trading. Risk sentiment prevails, weighing on the US Dollar, especially amid positive data from China. Market focus is on Lagarde's speech and EU/US data. The EUR/USD rate has risen above the 20-day Simple Moving Average (SMA), which still slopes downward. The Momentum indicator is above 100, signaling positivity for the Euro, though the overall trend remains bearish. On the 4-hour chart, the price is well-supported and above key SMAs, with technical indicators indicating an uptrend. The current resistance level is around 1.0600, and a breach could draw attention to 1.0630. Closing above this level daily would pave the way for further gains. Conversely, dropping below 1.0540 could weaken the Euro, pushing it towards 1.0500. EUR/USD rose on Tuesday, defying positive US data and higher Treasury yields. The pair reached a high of 1.0595 before retracing. ZEW's survey shows positive signs in the region, with the Eurozone's economic sentiment index improving to 2.3 from -8.9 in October, beating market expectations. Germany's ZEW also recovered from -11.4 to -1.1, surpassing the market's consensus of -9. Next week, the European Central Bank (ECB) is set to hold its monetary policy meeting, expected to keep rates unchanged for the first time since June 2022. On Tuesday, optimistic US economic data included Retail Sales (up 0.7% in September, compared to the expected 0.3%) and Industrial Production (0.3% vs. 0%). The US Dollar briefly gained from this data but quickly lost momentum. EUR/USD dropped to 1.0540 but then reversed its uptrend. Both US and European bond yields surged, with the US 10-year yield rising to 4.86% from 2.60%, and Germany's equivalent yield increased from 3.40% to 2.88%. Bond markets continued to experience significant fluctuations. If Eurozone rates follow Treasury yields, the impact might be offset, as seen on Tuesday. However, robust US data could limit EUR/USD's upward potential. On Wednesday, Housing Permits, Building Permits, and the Beige Book by the Fed are due. Stay tuned for updates on this dynamic market scenario.
by Gwen_Humuna
1
EURSEK July 4th, 2023The Swedish economy will not shrink as much as previously expected, and the level of unemployment will stay relatively steady, according to a government agency. However, high inflation and higher interest rates have had a negative impact on Swedish households, leading to a significant decline in housing construction. This, along with a slowdown in exports, will result in a 0.4 percent decrease in the country's gross domestic product (GDP) in 2023, which is less severe than the 0.6 percent contraction predicted earlier. Despite the economic downturn, there are no clear signs of weakening in the labor market. Unemployment is projected to be 7.5 percent in 2023 and is expected to rise to 8.1 percent in 2024 before declining in subsequent years. Inflation is predicted to remain high at 8.7 percent in 2023 but will decrease to 2.7 percent in 2024. Inflation is then anticipated to drop to 1.2 percent in 2025 before slightly surpassing the Swedish central bank's target of 2 percent in 2026 and 2027. The Riksbank, Sweden's central bank, has raised interest rates to address inflation, with a further increase expected before a subsequent reduction in 2024. The interest rate will then be maintained at 1.75 percent from 2025 to 2027 following additional cuts.
Short
by DNP-FX
3
EURSEK: Dips worth buyingEURSEK Intraday - We look to Buy at 10.6539 (stop at 10.6164) The medium term bias remains bullish. We look to buy dips. Our short term bias remains positive. Downward pressure has continued and we are assessed as being in the corrective leg lower before the next rally. Previous support located at 10.6500. Our profit targets will be 10.7529 and 10.8182 Resistance: 10.7600 / 10.8000 / 10.9000 Support: 10.6700 / 10.6500 / 10.5859 Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
Long
by VantageMarkets
EURSEK:Euro back?EUR/SEK Intraday - We look to Buy at 10.5061 (stop at 10.4794) Preferred trade is to buy on dips. Prices have continued the bullish move higher and resulted in 5 consecutive positive days. There is scope for mild selling at the open but losses should be limited. We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher. Our profit targets will be 10.5900 and 10.6100 Resistance: 10.5900 / 10.6074 / 10.7000 Support: 10.5000 / 10.4500 / 10.4000 Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’) . Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
Long
by VantageMarkets
EUR/SEK Volume Profile 📊 and Price action analysis 📋On EUR/SEK is nice to see strong buying reaction from the price 10.2588 , there is nice to see strong volume area.... Where is lot of contract accumulated... I thing that buyers from this area will be defend this long position... and when the price come back to this area, strong buyers will be push up the market again... Resistance from the past + Uptrend + Strong volume area is my mainly reason for this long trade.... Happy trading Dale
by Trader_Dale
1
Short Vision on EUR SEK for 07/03/2022Hello Dear Traders, You find below my analysis for EUR/SEK, the currency pair is in the sell zone. I expect the price to fall. According to my set of rules, in the M30 frame EUR/SEK will fall to 10.78 as I am showing in my chart. Our Daily Goal is 10.75. Currently, EUR/SEK is moving towards the resistance level 10.87,where there is some liquidity from this value we are looking for short-term selling opportunities of EUR/SEK. Good Luck and enjoy your Bearish Market for today. Entry:@10.87 TP1: @10.84 TP2: @10.81 TP3: @10.78 SL: @10.91 As mentioned on previous posting, we oscillate daily with the market based on Human Behavior and Sentiment. Feel free to share your thoughts and opinions in the comment section below, I will be glad to discuss my friends!
Short
by HugoAJROUCHE
Short Vision on EUR SEK for 04/03/2022Hello Dear Traders, You find below my analysis for EUR/SEK, the currency pair is in the sell zone. I expect the price to fall. According to my set of rules, in the M30 frame EUR/SEK will fall to 10.78 as I am showing in my chart. Our Daily Goal is 10.75. Currently, EUR/SEK is moving towards the resistance level 10.85,where there is some liquidity from this value we are looking for short-term selling opportunities of EUR/SEK. Good Luck and enjoy your Bearish Market for today. Entry:@10.85 TP1: @10.83 TP2: @10.81 TP3: @10.76 SL: @10.89 As mentioned on previous posting, we oscillate daily with the market based on Human Behavior and Sentiment. Feel free to share your thoughts and opinions in the comment section below, I will be glad to discuss my friends!
Short
by HugoAJROUCHE
Short Vision on EUR SEK for 02/03/2022Hello Dear Traders, You find below my analysis for EUR/SEK, the currency pair is in the sell zone. I expect the price to fall. According to my set of rules, in the M30 frame EUR/SEK will fall to 10.73 as I am showing in my chart. Our Daily Goal is 10.71. Currently, EUR/SEK is moving towards the resistance level 10.81,where there is some liquidity from this value we are looking for short-term selling opportunities of EUR/SEK. Good Luck and enjoy your Bearish Market for today. Entry:@10.81 TP1: @10.78 TP2: @10.76 TP3: @10.73 SL: @10.85 As mentioned on previous posting, we oscillate daily with the market based on Human Behavior and Sentiment. Feel free to share your thoughts and opinions in the comment section below, I will be glad to discuss my friends!
Short
by HugoAJROUCHE