SEK/MXN 8H SHORT Selling Opportunity
Hello, I am Forex Trader Andrea Russo and today I want to talk to you about a SHORT selling opportunity on SEKMXN.
After careful technical and fundamental analysis, I decided to enter a SHORT position on the SEKMXN cross at the level of 2.0465. My strategy includes a profit target (Take Profit) set at 1.75%, while the protection level (Stop Loss) is set at 0.59% to manage the risk effectively.
Technical Analysis
The chart shows a clear bearish trend, supported by overbought signals on the RSI and MACD indicators. In addition, the price has recently tested a key resistance, suggesting a possible reversal.
Fundamental Analysis
From a macroeconomic perspective, the Swedish krona (SEK) is facing pressure from weak economic data, while the Mexican peso (MXN) benefits from a more stable economic environment and competitive interest rates.
Trading Strategy
Entry: 2.0465
Take Profit (TP): 1.75%
Stop Loss (SL): 0.59%
This setup offers an interesting risk/reward ratio, ideal for those looking for short-term opportunities with a calculated risk.
Conclusion
Forex trading requires discipline and rigorous risk management. This trade on SEKMXN represents an interesting opportunity, but as always, I recommend doing your own analysis before entering the position.
Happy trading everyone!
