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U.S. Dollar / Swedish Krona

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USDSEK trade ideas

USDSEK (EURUSD BABY BROTHER)USDSEK often gets overlooked by retail traders as they see this market as having a mind of its own however, this market can be traded instead of the EURUSD due to its strong correlations. If you use the compare tool in tradingview add this chart to the EURUSD chart and you will see when EURUSD goes long, this chart goes short and vice versa. Often the EURUSD can become cluttered and the USDSEK could show clearer trading opportunities. Technically we have been waiting for price to break the key supporting trendline, price completed this on the Daily chart and now we are looking for the continued short trades after it re-tested the key resistance at 9.0200.
Short
by BlueberryMarkets
USD/SEK 1H Chart: Bullish momentum likelyUpside risks prevailed in the market, thus sending the US Dollar 4.25% higher against the Swedish Krona. Half of these gains have erased since beginning of October, as the pair returned near 8.9000. As apparent on the chart, the currency pair is trading in a short-term ascending channel. Given that the rate is supported by the 55-, 100– and 200-hour SMAs, it is likely that goes upside. Important resistance level to look out for is a combination of the Fibonacci 0.00% and the weekly R3 at 9.2487. It is the unlikely case that some bearish pressure still prevails in the market, the US Dollar should not exceed the Fibonacci 23.60% retracement at 8.9134.
by UnknownUnicorn890690
Exotic Lover's! USDSEK Possible Resistance Breakout!I was testing yen strength as the EURJPY and GBPJPY are doing nice with there fall USDSEK could better relly upward too. I am saying this cause USDSEK currently has like -0.80 correlation to the EURJPY and GBPJPY. Seeing a weak pound USD is also pulling down the GBPUSD and talking about this pair it is highly positively correlated to EURJPY and GBPJPY so, if it falls hard that's good for EURJPY and GBPJPY short (sell)! And as I said if EJ and GJ are falling what we end up with? USDSEK upward relly right? Eh! Charts show everything I hope you all do understand. The Key point in Chart. 1) Price trying to breakout the Minor Resistance Level @ 8.98283. 2) Ascending Triangle pattern indicating upward continuation in price. 3) Impulse waves are in uptrend side of the Elliott wave. 4) Fibonacci Extension 38.20% chasing by the price and could possibly chase further higher levels depending on the pair upward strength. Ok, thank you never mind I don't wanna stretch this post longer. Everything is told by chart itself better just be careful with the news sentiment, concerned +/- correlated pairs activities how they acting in whole and some important levels like those resistance, support etc.
Long
by jessi061