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EURSEK

ridethepig | Remaining Short EURSEK A timely update to the EURSEK chart with 2020 flows entering into play as widely anticipated. Lets start by reviewing the concerning Macro Map in the diagram: In the longer term, positional swings come down to a struggle between patience on the one hand and greed tendencies on the other. In this all-encompassing battle, economic strategy, though important in itself, will always need the presence of technicals in order to strive for mobility. I am expecting sooner or later the free-fall to begin and get rid of the early dip buyers. Good luck all those on the sell side. As usual thanks for keeping your support coming with likes, comments and etc!
Short
by ridethepig
EURSEK strong rejection is expectedon DAILY: EURSEK is sitting around a strong support and resistance zone in blue so we will be looking for objective sell setups on lower timeframes. unless price breaks it downward aggressively, then we will be looking for objective sell setups on its retest. on H4: EURSEK formed an objective channel in red, so we are waiting for an objective break above the last swing that forms around our upper red trendline to buy this pair. on M30: EURSEK also formed an inverse head and shoulders pattern, so we are waiting for a momentum candle close above our neckline to buy. (conservative traders should wait for the buy from H4)
Short
by TheSignalyst
3
Bulls were able to force a reversal and seize the momentumAfter reaching its support level in the previous session, bulls were able to force a reversal and seize the momentum to recover their losses. The pair now has a bullish trajectory and signs say that it’s heading for its resistance in the first half of the month. As of writing, investors of the Swedish krona are causing the pair to steady as they wait for the upcoming consumer confidence, manufacturing confidence, and retail sales figures from Sweden scheduled today. Aside from those, bears are also hoping to see better than expected results in the Swedish gross domestic product report that is also scheduled to be released tomorrow. That would strengthen the Swedish krona and give a tough time for the euro. On the other hand, the main factor that is supporting the single currency is the recent news about the European Commission’s plan for the post-coronavirus recovery funds. According to reports, it will be worth a staggering 1.85 trillion euros.
Long
by Financebroker
Best FX pair of 2018-2020 making a nice bottomI think there is a high probability, higher than 20% I am certain, that this pair if it visits the entry area, goes up without going down too much. It could also go a bit further before reversing, I am giving myself 2 chances on this one but no more if I lose twice I quit. Here you have the weekly chart: The spread is 30 points which is not very high, it's not the same as 30 points on EURUSD. It's a pretty typical bottom (if it ends up being one). Textbook says to wait for "confirmation" or something I guess? Something like this? And not even enter at neckline, they want a "confirmation" candle, they want the price to go past the neckline. And stop losses are rarely mentionned. At the bottom (great idea), sometimes halfway through. You don't even get 2R! Forex markets TREND. TREND = goes in 1 direction MORE than the OTHER. THEREFORE ==> Target MORE than stop loss. That's how the market is. It works in a high reward to risk way. It is abstract but it's logical and pretty simple to understand right? Hey, they want more and more confirmation, so I have a proposal: Already made a new low as I write this, but hasn't reached the entry level yet. Let's do this!
Long
by MrRenev
3
I knew it... And I sure am not coming back to crypto!Bitcoin is not a currency, no companies are doing business with it and using the market to hedge. There is no commercial whales moving money around, and no central banks regulating it either. And so the price behaves differently. Gold doesn't have a lot of import/export currency management, but alot is similar, central banks and sovereign funds are major players. As gold goes up I expect it to behave more in a "speculative way". EURSEK did "top at 6000" as it should be! They call FX a "complex and efficient market" no that is wrong. It is simply a - well yes more efficient market but - a market without hordes of bagholders and bottom chasers. I think that 95% of the time the Forex market is random, but the rest of the time it's pretty predictable I guess. Much less noobs, and this is why regulators hate Forex and want filthy casuals to avoid it entirely. This is just 1 price move I know, but it is yet another example of how BTC is different. What is the point of learning to trade crypto? 90% of what you learn will be lost and can't be transmitted to other assets when the ponzis fall to zero. Or perhaps that knowledge and skill and experience can be useful... Trading hyped stocks and future speculative bubbles with very high retail participation. I'm not a stock expert and clearly I'd rather continue to OTP FX (+ macro commodities), althought I plan on one day investing long term in stocks maybe even speculate short term on those. I would even go as far as saying... Someone reminded me of Pacific Ethanol today, good memories. They were in the news recently, more money problems. Markets are abstract, speculating is the most abstract activity there is involving markets. 90% can't understand something as simple as buying high and selling low. "Ooga booga first degree you have to buy low and sell high tihi it's obvious" Simpletons like this do not stand a chance in stocks & crypto already, so Forex that is "harder" they don't even stand a crumb of a chance. "Muhahaha every one thinks Bitcoin is going to zero but I noticed that last time it went up haha I am a genius visionary no one thought of that I outsmarted them all" I don't know if it's sad or funny. As Jean Claude Van Damme said "they are not aware" ;) If you want to learn more about this you have to be sneaky and ask or search for something like "when intuition is wrong" not "morons that don't understand abstraction" or so, "oh it's ok to be wrong it doesn't mean you are stupid" because no one will ever admit they are an idiot and no one thinks they are anyway. It's like in South Park where 99% of the town men have a certain part of their body "well above average" 😆 Every one's above average, sure, this shows how smart they really are. "Every girl is beautiful, well above average" kek. Maybe there is a girl that is so terrifyingly ugly she drags the average down, is that what they mean? Euphemism and comforting lies, always. But when you're too smart to believe those... Have to look for dumb beliefs centuries old because most people dumb beliefs of today are actually the ones that are correct.... Lmao takes the average person literally centuries to understand something. I'd like to meet the magicians that have plenty of signals in choppy markets. They're so good that they aren't more active during major trends, they produce just as many ideas in dead choppy markets as in ultra trending ones. And they almost all sell something. Jesse Livermore about 'experts' and 'teachers': "makes his money from selling trading books because he can’t make money in the markets." The simple facts that these signal services are not more or less productive in changing market conditions, and their systems don't change, is just so hilarous and a huge red signal. I might short Bitcoin Monday but I'm not "coming back", just taking a look here and there. Made some money when I bought 10 days ago with 10k as a target, got kicked out way before 10k because I trade it as Forex and run for the exit quickly. Crypto Bagholders are right about something: money is made by holding. They don't understand exactly what they are saying. They are right that crypto has big pullbacks, in either direction, and to stay in and extract as much as possible from trends one has to sit through very big pullbacks (ewwww). Reward is large but risk too, there are no free lunch. But where crypto investors trully amaze me is that while they "understand" that crypto has really deep pullbacks, they rush in to buy at the slightest dip. Should I just short the pair? What's even left of the non swedish europe? I think I'll just make a small bet, been right and missing out alot lately.
Education
by MrRenev
18
Investors are choosing the Swedish krona instead of the euroInvestors are choosing the Swedish krona instead of the euro thus giving strength to bears to force the pair lower. In March, the euro seemed unstoppable as it continuously secures gains against the Swedish krona and other currencies in the region in the previous sessions. However, things are now turning around for the beloved single currency as it heads down in the market. Perhaps the bond-buying program that was recently announced by the European Central Bank is draining the strength of bullish investors. Forex investors are betting on the “pro-cyclical” currency as it has no great exposure to oil directions to make a strong rebound against the euro. Moreover, more issues regarding the block and the stimulus program are holding back the euro in sessions, preventing it from defending against the Swedish krone. This time, the recent decision of a German court calls the European Central Bank to justify its massive bond-buying program.
Short
by Financebroker
Striking similaritySweden had no lockdown, Europe did. EURSEK going to zero like BTC. Curious to see what happens. Let's check again in a few days. Same idea as Bitcoin back then for me. If I see a double bottom I will buy. All the brainlets should buy, if it goes up they will have "missed out" lmao. There's very little retail interest in this, I won't get to see the "bull market is back" reactions :( Hey maybe central bankers and investment banks are going to claim "bull market is back" 🐻😆
by MrRenev
The Swedish krona’s exchange rate has depreciatedThe Swedish krona’s exchange rate has depreciated thanks to the unprecedented fall of the US crude oil market. The euro is expected to snatch the momentum and propel the pair to its resistance after the pair bounced off its support and received support from the falling crude market. Looking at the chart, unlike most currency pairs of the euro, the EURSEK’s rally isn’t as big as the 50-day moving average has not totally taken flight against the 200-day moving average. Still, the upcoming rally will work in favor of bulls, allowing the 50-day MA to advance higher in the coming sessions. Also, the Swedish unemployment rate which just sharply fell helped drain the confidence of bearish investors in the sessions. As for the euro, it’s not spared yet as more headwinds are coming to its way. At first glance, the PMIs from the region may look grave, but don’t be fooled because the worst has yet to come for the single currency.
Long
by Financebroker
Global demand for EURO fallingI compared EURO value to all major world economies outside of European Economic area (EEA) for an accurate evaluation of euro currency on global scale (USA, Canada, China, India, Japan, Russia, Ukraine, Brasil, Australia and South Korea). And this is what we get in times of COVID crisis: When COVID started in Wuhan and China international demand for EURO started to increase rapidly. Euro broke yearly ceiling. But as COVID started to infect EU in March uncertainity started and now we broke the demand line and started a bearish trend which will continue as we broke and closed below April support S3 (below April value).
Short
by ICFX
2
EUR/SEK failed to break out from a key resistance lineThe pair failed to break out from a key resistance line, sending the pair lower towards its previous low. The European Union is under pressure to fill the gap that the United Kingdom left. This was after Britain officially leave the largest trading bloc in January 31, 2020. It is now requiring its member states to increase their contributing to the EU budget fund for the coming years. Brussels demanded Sweden to its annual share by 44%. However, Swedish Prime Minister Stefan Lofven stunned the EU after it said that “Brussels is not my priority”. Sweden is known as one of the frugal four (4) European countries who resisted the call for a budget hike. He argued that countries with much bigger economies should pay for the increase. He was directly referring to Germany, the economic powerhouse of the EU. However, Berlin is also experiencing problems with its own economy. For the fourth quarter of 2019, the country recorded a zero (0) percent growth.
Short
by Financebroker