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SWEDISH KRONA / U.S. DOLLAR

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SEKUSD trade ideas

Going Long USDSEK While Awaiting for Dollar Bear to ResumeSome pairs, such as USDMXN have falling more than 3% over the past week, but the USDJPY pair is hesitant to fall do to several economic reasons. While waiting for the USD bear market to resume, I have placed an order to buy USDSEK in the up direction. The most ideal stop would be placed under the previous daily low of support at 8.5700, but I don't want to stay in the trade that far should the trade go against me and the dollar suddenly continues to shoot down; hence, a smaller stop on the chart, and a smaller target to what I believe is an equilibrium price if USDSEK decides to move up or overshoot. Further technical reasons: (1) Stochastics oversold (2) Momentum bullish (3) RSI at extremes and bullish (4) Harami Japanese price pattern called a doji reveals hesitation of the previous bear swing to continue, and a bullish swing is pregnant, but it could lose its pregnancy although the sign is there, which is why I don't want to hold to the 8.5700 swing low. I'd rather just get out if the bear swing continues.
Long
by Rocketman
USD/SEK 1H Chart: Upper range line reachedThe US Dollar has been stranded in the 8.5675/8.9835 range since late April. Its southern boundary and the senior channel were tested mid-June. This move was followed by the Greenback initiating a new up-wave and reaching the 161.80% Fibonacci expansion line at 8.95 yesterday. Given that the pair has reached the upper range boundary, it is likely that bears start to pressure the rate and thus push it lower. This assumption is likewise strengthened by the fact that the rate has breached the dashed short-term trend-line. The base scenario favours the weakening of the strong upside momentum and a soon decline down to the 55-, 100– and 200-period (4H) SMAs or the other range line at 8.75 and 8.5675, respectively.
by UnknownUnicorn890690
OPEN USDSEK daily tradeThe buy zone is between the the green and red lines. It's recommended to limit buy close to the green line, in order to guarantee the position. The red line is about 250 pips below the green line, and acts as the stop-loss level. There is no target price yet. This trade will be monitored once every evening. If there is no update, it means the trade is still active. Once the trade is closed successfully, a risk-to-reward ratio will be determined. This strategy only requires reviewing the price action trend once every day.
Long
by ikeel
Round Number Holds Strong on The USDSEKLast post: May 20th. See chart . Review: Price had found support and the bulls were back in control of the market. Update: The bulls remained in control, taking price through resistance but this week has seen price fail at the round number 9.0000. Conclusion: Standing aside for now until the round number is confirmed as support before considering long trades. Any comments or questions, do not hesitate to leave them below. Give us the thumbs up if you share our sentiments! Sublime Trading
Long
by Sublime_Trading
1
USDSEK HIts new YTD HighsSEK weakness continues to reign , previously we saw a potential double bottom (DB) form with the February low (pattern later confirmed with a break of the neckline in April) and had further reason to be convinced of the reversal with an A-B-C reversal pattern forming off the same Feb low. After reaching a YTD high of 8.9159 we saw a ner retest of the DB neckline but have now advanced to a YTD high of 8.96 and threatening a test of pysch level 9.00 as well as the pivot support from April 2017 at 9.10. IF we see price advance above these milestones then the next target is the 2016 high at 9.44. Traders should look to get tactically long either on breakouts or pullbacks to prior pivots. Be wary of entering on overstretched bars, we may see a short term advance followed by a pullback to 9.00, an entry could then be taken from the next close at a new high Good luck
Long
by TJP_Trader
USD/SEK 1H Chart: Bullish in short termUSD/SEK has been guided by two opposing channels. The most senior pattern was formed in December 2016, while the junior one has bounded the rate within the bounds of this aforementioned senior channel. The most recent up-wave started late in January when the Greenback reversed from the 7.80 mark. The pair tested the upper boundary of the senior channel near 8.9025 during the first week of May. It has since edged lower but nevertheless remained near this long-term pattern. Technical indicators flash bullish signals in the short term. It means that the rate is likely to re-test the senior channel at 8.9025 this week. This level is likewise strengthened by the weekly R2 and the monthly R1. The outlook in the medium term, however, remains bearish, showing that the senior channel is likely to be respected.
by UnknownUnicorn890690