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U.S. Dollar / Swedish Krona

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USDSEK trade ideas

USDSEK Short BiasWelcome to everyone! Today is the day of USDSEK. usdsek just reacting the previous strong created supply area and going for short now. as we know the strength of dollar is getting weaker now. We always follow our rules and stick with our plan. But no method/plan help us without controling our emotions. Without proper knowledge forex is just a gambling for the people who try to gain profit from it following by their luck. So Short Bias right now. This is it. Enjoy Happy Trading : )
Short
by saqibrajaforexgroup
USDSEK SWING TRADE SELL IDEAThis is an idea and not a signal to sell. It is for educational and demonstration purposes only. If you enter, you trade at your own risk. Always do your own analysis to confirm you agree with any idea before trading. With that being said, Price reached top of ascending channel and had bearish momentum. Looking for a pullback to the trendline and continuation of sell to a key zone in the market, which is the 50% or 61.8% fib level from swing low to swing high. The trade from the pullback to the trendline is a possible 575 pips after pullback. Trade at your own risk.
Short
by mrsceleste
US dollar recovers against Swedish kronaOver the last 24 hours we have seen a remarkable recovery in the USD/SEK pair, as we bounced from a major confluence of technical indicators. On the daily chart, we had been hovering just above the 200 day EMA for several sessions, but on Monday exploded to the upside. The candle stick was rather large, which of course is extraordinarily bullish, and making for an even more interesting set up is the fact that we had seen the 50% Fibonacci retracement level acted as support as well. Looking at the daily chart we can also see that the Tuesday session is now starting to form a supportive looking candle as well, so if we can break above the highs during the trading session on Monday, then the market is likely to go looking towards the next major round figure, 9.5 SEK. To the downside, the obvious support is at the 9.25 SEK level, which featured the technical indications. The question now is whether or not this is about US dollar strength or more of a risk off type of situation? The US dollar strength could be due to the stock markets in the United States, as they have shown a bit of resiliency in comparison to their European and Asian cousins. Ultimately, this looks like a nice long term set up that traders will be taken advantage of, with an obvious stop loss area. Beyond that, we could even see the market go above the 9.50 SEK level, but in the short term that would be your most obvious target. If we did break higher than that, the next target would be the 9.6 SEK level. If we were to break down below the 9.25 SEK handle, then it would open the door to the 9.15 SEK level below which also features the 61.8% Fibonacci retracement level.
Long
by Forex4you
USD/SEK approaching major confluence of liquidityThe US dollar has initially tried to rally during the trading session on Tuesday but then turned around to fall towards the 9.25 SEK level. This is an area that has been important more than once as you can see in the past, but there are also a major confluence of indicators in this general vicinity as well. The market looks very supported in this area, but we are crashing into it, which makes quite a bit of sense when you think about the Federal Reserve stepping away from its hawkish monetary stance. Beyond that, we could have more of a “risk on” move as well, which would also break this market down. After all, the Swedish krona is considered to be a currency that is highly influenced by technology. The market is testing the 50% Fibonacci retracement level, which of course attract a lot of attention as well. Quite frankly, the 200 day EMA sitting just below also adds a lot of support. That being said, there is a simple way to approach this market, the one that I will be using to go forward. I will use the close on Tuesday as a barometer as to which direction we should be trading. If we can break above the highs of the trading session, that would show a significant break higher based upon the fact that we have already repudiated buying. A break above there opens the door to the 9.35 SEK level, possibly even the 9.45 SEK level. On the other hand, if we break down below the bottom of the candle stick, it opens up the door to the 61.8% Fibonacci retracement level down at the 9.15 SEK. While the market looks very negative, we do have quite a bit of support. That being said though, things certainly look bad for the greenback in general so any bounced will probably be somewhat short-lived.
by Forex4you