Channel-bounceAfter bouncing the lower channel the market may now move up again.
Good trades to everyone!
SEKEUR trade ideas
Strong rejection!EURSEK was strong rejected at the 0.618 golden ratio and also bounced off the 50MA so our downside target is 10.18000
EURSEK LONG TRADEPrice printed an inverted hammer on the 4 hour chart and this is a Daily level it is rejecting. I am also seeing bulls come into play. I am targeting previous resistance giving this trade a good 3:1.
Shortterm setup on EURSEKPrice is channeling down nicely on the daily. We had a break and retest of a horizontal trendline and price is now consolidating/forming a nice small bear flag.
I would look for a 1:1 or 1:1.5 setup just to break the weekly lows.
Trade with care!
The euro is set to redeem itself against the Swedish kronaAfter weeks of bearish waters, the trading pair is expected to sail in bullish markets as the euro sets its eyes on the highly anticipated non-farm payroll in the United States. The results of the report will strengthen the currency, allowing it to make a comeback against the Swedish krona. The decision of the Swedish government to leave it's economy-wide open despite the pandemic is argued by many as the reason for the Swedish krona’s strength. Earlier this year, the Swedish krona was pinned down by the euro, but over the summer, it has staged a successful recovery. Now, as the pandemic continues to affect millions of lives around the world, the euro could have an upper hand in the coming days thanks to positive news ahead. The weak stance of the greenback is one of the reasons why the euro could strengthen further as investors would then prefer other major currencies.
EURSEK attempt to break support 🦐The market on the daily chart is inside a descending channel and recently created a bear flag that retrace from the previous move till the 0.618 fib level.
Currently the price tested the 4h structure and made few attempt to break it.
If the market will manage to break and close below it we can set a nice short order according with our strategy.
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Follow the Shrimp 🦐
Here is the Plancton0618 technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
EUR/SEK - Retest H4 Short - But Not IdealThis is a great zone to short the retest, but the problem is the consolidation prior to the move up to retest. When you get that consolidation, you can assume it will act as support on the way back down. When price fails to build supports before retesting a level, it sets up a higher probability short opportunity. You can also assume the move up will have more power because it has had time for accumulation/forming of structure. Build up pressure and the pop is usually more powerful.
SEK likely to strenghten further against EUR.The SEK comes from weak valuations compared to other
currencies, mostly because of the negative interest rate
policy of Swedens reserve bank, the Riksbank.
The zero percent interest rate policy has been considered a failed policy and is therefore not very likely to be revisited by the Riksbank. Simultanously, weaker member nations within the European union (EU) project forces EU to lend and give money to the weaker nations in order to keep them within the EUR project.
These two dynamics should be favorable to the SEK.
Trade setup
The EUR/SEK recently had a retracement which provides a good opertunity to short EUR/SEK. I set my stop-loss just above the retracement peak at 10.326. My initial profit target is around the recent low around 10.21 and my second profit target is just above the major trend line since Marce 2013 plotted on the price chart.
EURSEK - LONGIt has been a case of how low can you go for this pair!
We are starting to see price nudging upward on the 4hr - looking to put in a small buy, and will build the position if this gains any momentum
EUR/SEK: I'm Bullish Long: Possible Bull Run?Right now on the EUR/SEK, I am willing to say I think a possible bull run is about the happen. It looks like resistance been going on for a while prior to the next positive wedge and looking at the different time periods, it may burst quite soon. As always, everything I say is on an opinion based basis. Please do your own due diligence and invest at your own risk. This isn't meant to be taken as actionable financial advice in any way, shape or form.
EUR/SEK BUY OPPORTUNITYEur / Sec when it explodes there will be chaos :) for now I will just say that it is on very strong moutly support and because of that u should go into long !!
Eur/SEK .. possible bull trend in coming / drive by fundamentalA short video of two possible outcome
Sweden’s central bank announcementEarlier this month, Sweden’s central bank announced that it will be expanding its quantitative easing program. The news ultimately weakened the run of bearish investors in the trading sessions. However, bulls didn’t immediately take control of the pair as the euro also faced headwinds then. Luckily for them, the direction of the pair is looking pretty bullish once again thanks to the strong investor confidence in the eurozone. The euro to Swedish krona exchange rate’s prices are now widely on track to reach their resistance soon. Looking at the chart, it appears that the Swedish krona first had a grip on the pair. Although bears ultimately lost control, allowing bulls to regain their footing. If the pair climbs towards its resistance, bulls will once again force the 50-day moving average higher towards the 200-day moving average. But as of writing, the pair is in bearish territories considering that the 200-day MA is still dominant.
SELL EURSEK Sell EURSEK, below the low of the previous candle. Price with strong momentum down tryed to go up and now is going down again.
