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SWEDISH KRONA / U.S. DOLLAR

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SEKUSD trade ideas

USD/SEK will reverse back in the following daysThe pair will reverse back in the following days after being whipsawed, sending the pair lower toward its previous low. Sweden leaves the negative territory of interest rate in the last month of 2019. This has fueled the Swedish Krona against the US dollar. However, the greenback managed to fight the krona following the signing of the US-China trade deal. Despite this, investors are worried about the future of the US dollar as impeachment in the House of Senate begins. Under the Trump Administration, US indices hit record levels and unemployment reached 50-years low. Another concern from investors was the diminishing leadership of America in the global arena. As Europe introduces a greener economy, the US is moving away and pumping oil as much as possible. America even reached records of daily oil production as demand for the black gold continues to surge. A street in Stockholm became the first location in Sweden to ban old diesel cars.
by Financebroker
USDSEK - Building bullish strengthUSDSEK (1H) - short term bullish bias The US dollar has regained strength overnight and is aiming for the previous high. Last week's rally had shown signs of exhaustion with the RSI indicator forming a double top in the over-bought area. Yesterday's pullback was a temporary pause to let buyers catch their breath. The demand zone of 9.4900 revealed strong buying pressure and was enough to contain the retracement. The uptrend is still intact and we would expect the pair to challenge the major resistance of 9.5380. A breakout could extend the rally towards 9.5500. Key support: 9.5080 Key resistance: 9.5380
Long
by INFINOX_Capital