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U.S. Dollar / Swedish Krona

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USDSEK trade ideas

USDSEK - Let's sit & wait...USDSEK - Let's sit & wait... Most favourite plan to do on the weekend is my weekend analysis. The market is close, going through higher TF, getting into the zone and ready to crush another week of trading! USDSEK - Another trading pair I occasionally trade. I feel the behaviour of SEK is very interesting, i'd say I do trade relatively small on this pair but the risk/rewards are great. For now we are waiting for a break to either direction and this is a similar theme on all FX pairs I am looking at. When the market are these conditions I usually add alerts and perhaps limit orders. Key Tip: Don't forget to follow your trade plan and if you don't have one MAKE ONE! Trade Journal
by Trade_Journal
USDSEK On the most critical 7-year ResistanceThe USDSEK pair has been rising parabolically all year due to the well-known fundamental reasons empowering the USD amidst the high inflation. The price has finally reached though a technical level that we have to consider as it has been forming long-term tops over the past 7 years. As you see on this 1W chart, the Resistance we are referring to is the Higher Highs trend-line that started after the April 13 2015 High. Every Higher High after that, was formed on every +0.5 Fibonacci extension (1.5, 2.5) and two weeks ago, the 3.5 Fib was reached and strongly rejected the price, again exactly on the Higher Highs trend-line. However since last week, the price resumed the uptrend and is again about to test that strong Resistance cluster. As long as it closes below, it remains a good long-term sell opportunity. If fundamentals continue to have their way though, then this 7 pattern will be invalidated and buying will remain the only option, in which case the 4.5 Fib will be our target. ------------------------------------------------------------------------------- ** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 👇 👇 👇 👇 👇 👇 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
1
Reversal set for last week’s worst performing pairs? USD/SEKBy the close of last week's trading session, the top 3 worst performing currency pairs came out to be the USD/PKR (-4.91%), NZD/USD (-2.61%), and USD/SEK (-2.04%). To help determine the direction that these pairs will take this week, we will use the Hacolt Indicator (Vervoort Heiken-Ashi Longterm Candlestick Oscillator). Will the pairs continue to slide, or are they primed for a rebound in response to the huge selloffs? The Hacolt Indicator helps to confirm the strength of trends. When the indicator presents green, the market is expected to trend upward, and when it is red, it is expected to trend downwards. It can also be used as a trend switch signal, suggesting a potential turnaround or a pullback on the current trend. Starting with the USD/PKR, just like the USD/SEK, the Hacolt Indicator shows a green bullish signal. However, strong resistance at 240.00 created a double top formation on the daily timeframe, which resulted in last week’s downward move for the pair. The price may head towards 224.00 and even 217.50 if the Hacolt indicator gives a red bearish signal this week. For the NZD/USD, the Hacolt Indicator, on the other hand, shows a red signal which indicates that the pair is still on a downtrend. The trading candle last Friday also ended closing below the 0.5626 support area, which may suggest that the price for this week for the NZD/USD would likely continue going down, potentially targeting the lows from March 2020 at 0.5469. Lastly, the USD/SEK, and the Hacolt Indicator shows a green signal on the daily timeframe, possibly indicating that the uptrend is still in favor. This indication contrasts with the current downside move in the candles. If the Hacolt Indicator gives a bearish red signal this week, we might see the price retesting the 10.80 price level. A final target might be around the 10.45 support area. Overall, the trend is still bullish though, so look out for support formation in key psychological area around 11.00.
by BlackBull_Markets