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SWEDISH KRONA / U.S. DOLLAR

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SEKUSD trade ideas

Swedish krona continues to sufferThe US dollar has risen again against the Swedish krona, testing the 9.9 level during the day. We are well above the 50 day EMA, and now threatening to make a fresh, new high again. Ultimately, this means that the market will probably go looking towards the 10 SEK level, an area that will of course attract a lot of attention as it is such a large, round, psychologically significant figure. That being said, the fact that the Monday candle is closing so strong suggests that we are going to get that follow-through. With the US dollar strengthening the way it is, that could be a very “risk off” signal, showing signs of the market becoming concerned about riskier currency such as the Krona. The 9.80 SEK level underneath should be support, and at this point the uptrend is showing no signs of letting up. That being said, the 10 SEK level is an area where I would expect a huge pushback, as it is a large, round, psychologically significant figure and of course an area that the market has seen. If we were to turn on a break down below the 9.80 SEK level, then the market probably goes looking towards the 50 day EMA underneath, closer to the 9.70 level. That being the case, it’s most likely a market that you are waiting to buy instead of trying to sell into that move. After all, the trend would still be very bullish, so trying to fight it would make any sense. It is not until the daily candle stick closes below the 9.6 SEK level that the trend would be threatened. Until then, it’s simply a matter of buying dips as they come along but based upon the Monday candle stick, we may not even get a chance.
Long
by Forex4you
USDSEK ShortThe USDSEK is comming down from its highest reading in 17 years. On Daily we have a pinbar followed by doji and then a clear bearish bar. On Daily the RSI is just about to cross the MA9 also. On 4h we have a decending triangle into support. Loss of momentum, the very high reading it is coming down from and the structure suggest a break of the support - but still confirmation is needed. The target should be around previous structure meeting the MA100 at around 9.75000
Short
by Sejdr
USDSEK ShortSold USDSEK on the 2h after the break of a triple top at a supply level. (2h is usually the lowest timeframe I will trade on) If you haven't noticed already - my method is simple - wait for price to get to a major supply or demand area and then wait for it to form a pattern and break the pattern to confirm my entry. Funny enough, the entry is the LEAST important part of my trading. It's taken me 3 years to realize that managing my risk and my money is the MOST important part. Anyway, let's see how it goes!
Short
by YoungFinance1
1
USDSEK Breakout Loses Steam after All Time New Highs.Like what I am seeing here on USDSEK. We broke out above into all time new highs, however the momentum did not continue. You can see we fialed to make another higher low. There was a battle between the bears and the bulls at the 9.8600 zone. @ hour chart shows the level better: We have had a nice break and close below this support level, and am targeting 9.7625 zone below. Some nice confluences. Showing exhaustion, at a major level (break out/resistance zone) and a nice strong red candle break. The USDNOK is also showing an interesting set up too. Just awaiting the break:
Short
by Uncharted-FX