USDSEK Entry Price 10.08263 Series of lower highs formed on the H4 Time Frame Chart for currency pair USDSEK. The market is bearish.
USDSEK
USDSEK Still bullish long-termThe USDSEK pair had an excellent technical bounce on the 1D MA50 (blue trend-line) following our previous analysis:
As you see that was our 1st suggested buy entry, so if you took the trade you can book (partial) profits and enter on the next pull-back near the diverging Higher Lows trend-line. The long-term entry is now located on the 1D MA200 (orange trend-line). We expect the pair to test the 10.4850 COVID High by the end of August.
--------------------------------------------------------------------------------------------------------
Please like, subscribe and share your ideas and charts with the community!
--------------------------------------------------------------------------------------------------------
USDSEK Fails To Hold Above 10.1861We have two key price action markers on the daily timeframe.
1. Price makes an attempt to trade above previous highs and it does. However, price failed to hold above and close.
2. The subsequent candle is an indication that momentum to the downside is accelerating. With the DXY looking bearish, this is a good sign that we can expect further downside.
USDSEK Holds Resisted Below 10.07110The recent price action indicates that USDSEK is holding resisted above a key daily level at 10.07110.
Price made this high on March 7th of this year. On May 12th, price tried to trade above this level. However, it did not hold. I'm currently eyeing the downside potential on this pair.
USDSEK Best levels to buy.The USDSEK pair has turned parabolic in these past 12 months and is now supported by a diverging Higher Lows trend-line. The ultimate target is the 10.4850 High of the March 2020 COVID pump, but as the 1D RSI is hitting Lower High Resistances, it is best to wait and buy lower upon a pull-back.
Best levels to do so are within the 1D MA50 (blue trend-line) and the Diverging Higher Lows and if that fails, then on the 1D MA200 (orange trend-line).
--------------------------------------------------------------------------------------------------------
** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
--------------------------------------------------------------------------------------------------------
Short USDSEK into FED FOMC meetingi think FED will be dovish and i take a risk to short USD here. also Bond Yields Differentials would be a help to some extent .
USDSEK PumpsUSDSEK pumping from demand - Targeting supply zone as marked. Nice H&S pattern to go along with it too.
TRADING IDEA --- NOT AN INVESTMENT OPPORTUNITY!
Is the krona a new safe-haven currency?The Swedish krona is among the major currencies that are susceptible to the latest developments in East Europe alongside the Euro, and both have been a basis for market sentiment surrounding the conflict on markets and economies.
On March 7, as the third round of peace talks capped off without any breakthroughs and as energy prices surged to a 14-year high, the SEK fell to its lowest in nearly two years at almost 10 SEK per USD.
Dovish Riksbank
The Swedish central bank’s (Riksbank) recent dovish stance also weighs on the SEK. At its February monetary policy meeting, Riksbank kept interest rates at 0% and maintained the volume of its asset purchases unchanged. The decision dealt a further blow to the SEK, knocking its value by 2% shortly after the rate decision.
However, the pressure is growing on Riksbank Governor Stefan Ingves to hike rates as the central bank acknowledged the rising inflation rate as a result of higher energy prices.
Central bank peer pressure
Still, the central bank does not expect energy prices to continue to rise this year, it said in its most recent policy report, adding that inflation will likely fall back.
The central bank now expects a tightening of its policy in the second half of 2024, earlier than its previous forecast issued in November, amid peer pressure as the Bank of England recently hiked rates again to back to pre-pandemic levels, while the US Federal Reserve penciled in rate hikes at each of its remaining policy meetings this year.
Riksbank expects to raise its repurchase rate — or the interest it charges to commercial banks for short-term borrowings — to 0.06% in the first quarter of 2024 and to 0.31% by the first quarter of 2025.
Weakening SEK
In its February policy report, Riksbank acknowledged that the SEK is losing its value from its November 2021 levels based on the krona index. The central bank attributed the weakening of the krona to the rising turbulence on the financial markets.
"Variations in the Swedish krona exchange rate usually coincide with changes in risk appetite on the financial markets. In the coming years, the krona exchange rate is expected to slowly strengthen,” the central bank said.
Even before the COVID-19 pandemic, between 2013 and 2020, the SEK depreciated sharply due to lower interest rates and Riksbank’s quantitative easing. In an earlier report, the Riksbank said the depreciation of the SEK during the said seven-year period "is a puzzling phenomenon for an advanced economy” as the krona kept depreciating even when the interest differential stabilized.
Growing use as a reserve currency
Although Sweden’s economy is fairly smaller than its neighboring European countries including Germany, the UK, France and Italy, the Swedish krona has been classified as a safe haven currency for many foreign exchange watchers.
The IMF sees the SEK as the sixth non-traditional reserve currency globally next to the Australian and Canadian dollars, the Chinese renminbi, the Swiss franc, and the Korean won.
The SEK is becoming increasingly viable as a reserve currency as the US dollar’s dominance has been steadily declining over the past two decades as central banks turn to non-traditional currencies, according to a recent report by the International Monetary Fund.
The share of the US dollar in official reserve assets has decreased over the past two decades, which the IMF attributed to the increased share of non-traditional reserve currencies like the SEK, it said.
USDSEK Potential for Bullish Bounce | 31st March 2022We see the potential for a bullish bounce from our buy entry at 9.23337 in line with 78.6% Fibonacci retracement towards our Take Profit at 9.38103 in line with 100% Fibonacci Projection and 78.6% Fibonacci retracement. Our bullish bias is supported by stochastic indicator where price is trading at support level.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
USDSEK H4 Potential Bullish Momentum | 18th March 2022Price is near buy entry level of 9.46834 in line with 23.6% Fibonacci retracement . Price can potentially move towards the take profit level of 9.75972 in line with 61.8% Fibonacci projection and 50% Fibonacci retracement . Our bullish bias is supported by stochastic indicator as it is near to the support level.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
USDSEK H4 Potential Bullish Momentum | 16th March 2022Price is near buy entry level of 9.56198 in line with 50% Fibonacci retracement. Price can potentially move towards the take profit level of 9.76677 in line with 78.6% Fibonacci projection and 38.2% Fibonacci retracement. Our bullish bias is supported by stochastic indicator as it is near to the support level.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
USDSEK H4 Potential Bearish Continuation | 15th March 2022Price is near sell entry level of 9.57412 in line with 50% Fibonacci retracement . Price can potentially dip to the take profit level of 9.44253 in line with 61.8% Fibonacci retracement. Our bearish bias is supported by the price trading below the Ichimoku cloud indicator.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
USDSEK Potential for Bullish Bounce | 11th MarchPrice is near Buy Entry level of 9.67285 in line with 38.2% Fibonacci retracement and 78.6% Fibonacci projection. Price can potentially bounce to the Take Profit level of 10.03187 which is a key graphical swing high resistance. Our bullish bias is supported by price trading above Ichimoku cloud indicator. Alternatively, price might dip to the Stop Loss level of 9.48163 in line with 61.8% Fibonacci retracement.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website
Short Vision on USD SEK for 07/03/2022Hello Dear Traders,
USD-SEK is finally going down after the breakout from the rising support, Just as I predicted yesterday, already 100 pips profit for the last two days.
You find below my analysis for USD/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 USD/SEK will fall to 9.88 as I am showing in my chart. Our Daily Goal is 9.86.
Currently, USD/SEK is moving towards the resistance level 9.95,where there is some liquidity from this value we are looking for short-term selling opportunities of USD/SEK.
Good Luck and enjoy your Bearish Market for today.
Entry:@9.95
TP1: @9.91
TP2: @9.88
TP3: @9.86
SL: @9.98
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!
Long Vision on USD SEK for 04/03/2022Hello Dear Traders,
You find below my analysis for USD/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 USD/SEK will fall to 9.85 as I am showing in my chart. Our Daily Goal is 9.83.
Currently, USD/SEK is moving towards the resistance level 9.91,where there is some liquidity from this value we are looking for short-term selling opportunities of USD/SEK.
Good Luck and enjoy your Bearish Market for today.
Entry:@9.91
TP1: @9.89
TP2: @9.87
TP3: @9.85
SL: @9.96
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 Vision on USD SEK for 02/03/2022Hello Dear Traders,
You find below my analysis for USD/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 USD/SEK will fall to 9.66 as I am showing in my chart. Our Daily Goal is 9.65.
Currently, USD/SEK is moving towards the resistance level 9.72,where there is some liquidity from this value we are looking for short-term selling opportunities of USD/SEK.
Good Luck and enjoy your Bearish Market for today.
Entry:@9.72
TP1: @9.7
TP2: @9.68
TP3: @9.66
SL: @9.76
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!
USDSEK H4 Potential Bullish Bounce | 1st March 2022Prices are on bullish momentum and abiding to our ascending channel. We see the potential for a bounce from our buy entry at 9.44595 in line with Fibonacci Confluence (61.8% Fibonacci retracement and 61.8% Fibonacci projection) towards our Take Profit at 9.60693 in line with 161.8% Fibonacci extension . Our bullish bias is further supported by how prices are trading above our Ichimoku cloud indicator and RSI are at levels where bounces previously occurred.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website
Elliott Wave View: USDSEK Looking for Another Leg HigherShort Term Elliott Wave View on USDSEK suggests that the pullback to 9.06 ended wave 2. Pair has turned higher in wave 3 with internal subdivision as a 5 waves impulse structure. Up from wave 2, wave (i) ended at 9.178 and pullback in wave (ii) ended at 9.075. Pair resumes higher in wave (iii) towards 9.351, pullback in wave (iv) ended at 9.237, and final wave (v) ended at 9.45. This completed wave ((i)) in higher degree.
Pullback in wave ((ii)) is currently in progress to correct rally from February 4, 2022 low before the next leg higher. Internal structure of wave ((ii)) is unfolding as a double three Elliott Wave structure. Down from wave ((i)), wave a ended at 9.345, wave b ended at 9.4195, and wave c ended at 9.278. This ended wave (w) in higher degree. Rally in wave (x) ended at 9.3427. Wave (y) lower is in progress with internal subdivision as a zigzag Elliott Wave structure. Down from wave (x), wave a ended at 9.244, and wave b ended at 9.315. Near term, as far as pullback stays above 9.06, expect pair to extend higher.
USDSEK TO THE MOON!The central bank unveiled a path for interest rates that signals a hike only “slightly earlier” than previously, with a move now penciled in for the second half of 2024 rather than the final quarter. The governor stopped colleagues from starting a wind-down of the bond portfolio, with his casting vote determining the outcome for the first time since 2008.
Short Vision on USD SEK for 10/2/2022Hello Dear Traders,
You find below my analysis for USD/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 USD/SEK will fall to 9.13 as I am showing in my chart. Our Daily Goal is 9.11
Currently, USD/SEK is moving towards the resistance level 9.17,where there is some liquidity from this value we are looking for short-term selling opportunities of USD/SEK.
Good Luck and enjoy your Bearish Market for today.
Entry:@9.17
TP1: @9.15
TP2: @9.13
TP3: @9.11
SL: @9.2
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!
