USDSEK 20/04/2022Monthly:
inv h&s
W formation
Weekly:
h&s
Daily:
h&s
We had clear corrective bullish momentum, i'm expecting to reach the BOC
4H:
Bearish W
USDSEK trade ideas
Is the krona a new safe-haven currency?The Swedish krona is among the major currencies that are susceptible to the latest developments in East Europe alongside the Euro, and both have been a basis for market sentiment surrounding the conflict on markets and economies.
On March 7, as the third round of peace talks capped off without any breakthroughs and as energy prices surged to a 14-year high, the SEK fell to its lowest in nearly two years at almost 10 SEK per USD.
Dovish Riksbank
The Swedish central bank’s (Riksbank) recent dovish stance also weighs on the SEK. At its February monetary policy meeting, Riksbank kept interest rates at 0% and maintained the volume of its asset purchases unchanged. The decision dealt a further blow to the SEK, knocking its value by 2% shortly after the rate decision.
However, the pressure is growing on Riksbank Governor Stefan Ingves to hike rates as the central bank acknowledged the rising inflation rate as a result of higher energy prices.
Central bank peer pressure
Still, the central bank does not expect energy prices to continue to rise this year, it said in its most recent policy report, adding that inflation will likely fall back.
The central bank now expects a tightening of its policy in the second half of 2024, earlier than its previous forecast issued in November, amid peer pressure as the Bank of England recently hiked rates again to back to pre-pandemic levels, while the US Federal Reserve penciled in rate hikes at each of its remaining policy meetings this year.
Riksbank expects to raise its repurchase rate — or the interest it charges to commercial banks for short-term borrowings — to 0.06% in the first quarter of 2024 and to 0.31% by the first quarter of 2025.
Weakening SEK
In its February policy report, Riksbank acknowledged that the SEK is losing its value from its November 2021 levels based on the krona index. The central bank attributed the weakening of the krona to the rising turbulence on the financial markets.
"Variations in the Swedish krona exchange rate usually coincide with changes in risk appetite on the financial markets. In the coming years, the krona exchange rate is expected to slowly strengthen,” the central bank said.
Even before the COVID-19 pandemic, between 2013 and 2020, the SEK depreciated sharply due to lower interest rates and Riksbank’s quantitative easing. In an earlier report, the Riksbank said the depreciation of the SEK during the said seven-year period "is a puzzling phenomenon for an advanced economy” as the krona kept depreciating even when the interest differential stabilized.
Growing use as a reserve currency
Although Sweden’s economy is fairly smaller than its neighboring European countries including Germany, the UK, France and Italy, the Swedish krona has been classified as a safe haven currency for many foreign exchange watchers.
The IMF sees the SEK as the sixth non-traditional reserve currency globally next to the Australian and Canadian dollars, the Chinese renminbi, the Swiss franc, and the Korean won.
The SEK is becoming increasingly viable as a reserve currency as the US dollar’s dominance has been steadily declining over the past two decades as central banks turn to non-traditional currencies, according to a recent report by the International Monetary Fund.
The share of the US dollar in official reserve assets has decreased over the past two decades, which the IMF attributed to the increased share of non-traditional reserve currencies like the SEK, it said.
USDSEK Potential for Bullish Bounce | 31st March 2022We see the potential for a bullish bounce from our buy entry at 9.23337 in line with 78.6% Fibonacci retracement towards our Take Profit at 9.38103 in line with 100% Fibonacci Projection and 78.6% Fibonacci retracement. Our bullish bias is supported by stochastic indicator where price is trading at support level.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
USDSEK H4 Potential Bullish Momentum | 18th March 2022Price is near buy entry level of 9.46834 in line with 23.6% Fibonacci retracement . Price can potentially move towards the take profit level of 9.75972 in line with 61.8% Fibonacci projection and 50% Fibonacci retracement . Our bullish bias is supported by stochastic indicator as it is near to the support level.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
USDSEK H4 Potential Bullish Momentum | 16th March 2022Price is near buy entry level of 9.56198 in line with 50% Fibonacci retracement. Price can potentially move towards the take profit level of 9.76677 in line with 78.6% Fibonacci projection and 38.2% Fibonacci retracement. Our bullish bias is supported by stochastic indicator as it is near to the support level.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
USDSEK H4 Potential Bearish Continuation | 15th March 2022Price is near sell entry level of 9.57412 in line with 50% Fibonacci retracement . Price can potentially dip to the take profit level of 9.44253 in line with 61.8% Fibonacci retracement. Our bearish bias is supported by the price trading below the Ichimoku cloud indicator.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
USDSEK Potential for Bullish Bounce | 11th MarchPrice is near Buy Entry level of 9.67285 in line with 38.2% Fibonacci retracement and 78.6% Fibonacci projection. Price can potentially bounce to the Take Profit level of 10.03187 which is a key graphical swing high resistance. Our bullish bias is supported by price trading above Ichimoku cloud indicator. Alternatively, price might dip to the Stop Loss level of 9.48163 in line with 61.8% Fibonacci retracement.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website
Short Vision on USD SEK for 07/03/2022Hello Dear Traders,
USD-SEK is finally going down after the breakout from the rising support, Just as I predicted yesterday, already 100 pips profit for the last two days.
You find below my analysis for USD/SEK, the currency pair is in the sell zone. I expect the price to fall. According to my set of rules, in the M30 frame USD/SEK will fall to 9.88 as I am showing in my chart. Our Daily Goal is 9.86.
Currently, USD/SEK is moving towards the resistance level 9.95,where there is some liquidity from this value we are looking for short-term selling opportunities of USD/SEK.
Good Luck and enjoy your Bearish Market for today.
Entry:@9.95
TP1: @9.91
TP2: @9.88
TP3: @9.86
SL: @9.98
As mentioned on previous posting, we oscillate daily with the market based on Human Behavior and Sentiment.
Feel free to share your thoughts and opinions in the comment section below, I will be glad to discuss my friends!
Long Vision on USD SEK for 04/03/2022Hello Dear Traders,
You find below my analysis for USD/SEK, the currency pair is in the sell zone. I expect the price to fall. According to my set of rules, in the M30 frame USD/SEK will fall to 9.85 as I am showing in my chart. Our Daily Goal is 9.83.
Currently, USD/SEK is moving towards the resistance level 9.91,where there is some liquidity from this value we are looking for short-term selling opportunities of USD/SEK.
Good Luck and enjoy your Bearish Market for today.
Entry:@9.91
TP1: @9.89
TP2: @9.87
TP3: @9.85
SL: @9.96
As mentioned on previous posting, we oscillate daily with the market based on Human Behavior and Sentiment.
Feel free to share your thoughts and opinions in the comment section below, I will be glad to discuss my friends!
Short Vision on USD SEK for 02/03/2022Hello Dear Traders,
You find below my analysis for USD/SEK, the currency pair is in the sell zone. I expect the price to fall. According to my set of rules, in the M30 frame USD/SEK will fall to 9.66 as I am showing in my chart. Our Daily Goal is 9.65.
Currently, USD/SEK is moving towards the resistance level 9.72,where there is some liquidity from this value we are looking for short-term selling opportunities of USD/SEK.
Good Luck and enjoy your Bearish Market for today.
Entry:@9.72
TP1: @9.7
TP2: @9.68
TP3: @9.66
SL: @9.76
As mentioned on previous posting, we oscillate daily with the market based on Human Behavior and Sentiment.
Feel free to share your thoughts and opinions in the comment section below, I will be glad to discuss my friends!
USD/SEK ShortUSD/SEK its good for short position
We have double top
And prise is nearthe PRZ
RSI hav divergence
So short position is good
USDSEK H4 Potential Bullish Bounce | 1st March 2022Prices are on bullish momentum and abiding to our ascending channel. We see the potential for a bounce from our buy entry at 9.44595 in line with Fibonacci Confluence (61.8% Fibonacci retracement and 61.8% Fibonacci projection) towards our Take Profit at 9.60693 in line with 161.8% Fibonacci extension . Our bullish bias is further supported by how prices are trading above our Ichimoku cloud indicator and RSI are at levels where bounces previously occurred.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website
USDSEK TO THE MOON!The central bank unveiled a path for interest rates that signals a hike only “slightly earlier” than previously, with a move now penciled in for the second half of 2024 rather than the final quarter. The governor stopped colleagues from starting a wind-down of the bond portfolio, with his casting vote determining the outcome for the first time since 2008.
Short Vision on USD SEK for 10/2/2022Hello Dear Traders,
You find below my analysis for USD/SEK, the currency pair is in the sell zone. I expect the price to fall. According to my set of rules, in the M30 frame USD/SEK will fall to 9.13 as I am showing in my chart. Our Daily Goal is 9.11
Currently, USD/SEK is moving towards the resistance level 9.17,where there is some liquidity from this value we are looking for short-term selling opportunities of USD/SEK.
Good Luck and enjoy your Bearish Market for today.
Entry:@9.17
TP1: @9.15
TP2: @9.13
TP3: @9.11
SL: @9.2
As mentioned on previous posting, we oscillate daily with the market based on Human Behavior and Sentiment.
Feel free to share your thoughts and opinions in the comment section below, I will be glad to discuss my friends!
USDSEK: Ascending TriangleWeekly Ascending Triangle + Daily continuation Flag
50% Target Reached
50% Stoped at 9.28
usd/sek USD / SEK is currently in strong demand. This place has a golden ratio of 0.618. I am happy to remind you that it is an oder that has a high chance of success as it is technically robust.
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