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Euro / Swedish Krona

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EURSEK trade ideas

Adding more SEK to our portfolio=> After Sunday's election resulting in political deadlock we are set for another circus of government building. => Here we are expecting politics to open up an extended period of narrative for SEK where the path to normalisation (hikes expected to begin in December) will take centre stage. => With the focus shifting towards Riksbank and the economic expectations we are targeting a test of the 10.25xx => As most of you already know we are now overweight SEK in our portfolio with USDSEK and NOKSEK positions already running in profit since last week. => Good luck all here
Short
by ridethepig
1
EUR/SEK 1H Chart: Euro supported by SMAsEUR/SEK has been appreciating since mid-June when the rate reversed from the senior channel. This long-term pattern was formed at the very beginning of 2017. By this Friday, the rate had returned back to the 23.60% Fibonacci retracement line at 10.47 which has worked as strong resistance this month. The upper boundary of the junior channel is likewise located there. The pair’s current movement leads to suggest that a breakout of this resistance cluster is likely to occur, thus allowing the Euro to target another important resistance level at 10.48. This upward move should be supported by the 55-, 100– and 200-period SMAs both on the 1H and 4H time-frames. A possible target for the following week is the monthly R1 at 10.60. Moreover, the upward tendency of the price demonstrates that the Euro might actually continue trading in line with the senior channel and thus re-test the 2018 high of 10.70.
Long
by UnknownUnicorn890690
EURSEK - Daily - Broke the downside resistanceTrade Alert EURSEK has broken the medium-term downside resistance line, taken from the peak of the 3rd of May, which opened the path towards the key area of resistance at 10.48, marked near the peaks of the 13th of April, 9th of May and the 2nd of July. As we can see, that level acted as very good resistance, so judging by the pair's direction, it could be heading that way. If that resistance level gets broken, this could finally open the path towards higher levels (please see chart for details). For us to start considering slightly lower levels, we would need to see EURSEK dropping back down below, not only the downside resistance line but also the medium-term upside support line, taken from the low of the 31st of January. A break blow the last could open the way to the long-term upside line, drawn from the low of the 9th of October last year. This upside support line could also act as an important bouncing ground for the pair. But if it break, it could change the trend, where we could start targeting much lower levels. Don't forget your SL.
by JFD_Research
EURSEK - 240 - Only if it breaks that level.Trade Alert EURSEK is at an interesting area, where we will await for it to break out of, before we take a position. Judging by the recent move higher, there is a chance that we could see this pair continuing to move north towards the end-of-June levels. The potential target could be around 10.4745 area, marked by the strong resistance seen on the 2nd of July. Alternatively, a break below the lower highlighted area could force the buyers to abandon the pair. Don't forget to have your SL in place.
Long
by JFD_Research