Eurseksells
EURSEK approaching support, potential for a bounce!
EURSEK is expected to drop to 1st support at 10.64568 where it could potentially react off and up to 1st resistance at 10.72741.
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EUR/SEK - LONG TERM BEARISH OPPORTUNITYIt's been 5 months now since EUR/SEK has been sailing under the Daily 50 EMA.
It has now also broken the Daily 200 EMA.
What we can expect to happen next is a complete breakout of the 200 EMA and the beginning of a long term bearish move.
The confirmation that we need is for the price to fail to move and find support back above the Daily 200 or 50 EMA.
If it successfully consolidates under it, then we have a go for a push higher down.
This is my own analysis. You should never ever, even if it's the most profesionnal trader, take his words blindly. Do your own analysis and enter the trade on your own terms.
Trade safe.