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SEK

USD/SEK 1H Chart: Greenback breaches wedgeUSD/SEK is trading in two note-worthy patterns. The senior one is a descending channel which has confined the rate since late September. Meanwhile, the pair is also trading in an ascending wedge. The given pattern was breached late on Wednesday when the US Dollar pushed it through the lower wedge boundary circa 8.15. The rate has since traded lower, but has nevertheless remained in a stable position circa the aforementioned area. Technical indicators suggest that the rate should edge lower, setting the 8.10 mark near the 200-hour SMA and the weekly PP as a possible near-term target. In general, the rate is expected to continue trading lower during the following weeks, thus approaching the lower channel boundary.
Short
by UnknownUnicorn890690
EUR/SEK 1D Chart: Channel in TriangleBy large the slow moving low volatile EUR/SEK pair has been slowly moving in an ascending channel pattern on the daily chart. However, it has experienced a distinct spike in the second half of September, which in general is a cause for caution. Meanwhile, on a larger scale the currency exchange rate has formed a massive scale triangle pattern. The tip of the triangle is located almost at the 9.50 mark and in the year of 2018, which means that the triangle might hold for a long time. Although one should watch for possible breakouts near its borders. In regards to shorter term trading, the pivot points and the daily simple moving averages are a good guide.
by UnknownUnicorn890690
USD/SEK weakensThe New Zealand Dollar has depreciated slightly against the Japanese Yen during the past two weeks. This has resulted in the formation of a falling wedge. The given pattern was formed as a wave down in a senior ascending channel. The Kiwi has been hindering near the bottom wedge boundary for several hours. However, as there is still some downside potential until the lower channel line, the Kiwi might actually test the 80.00 mark—an level likewise reinforced by the 61.8% Fibonacci retracement. By and large, the rate is expected to rise in the medium term. It faces several significant resistance areas along the way, namely, the monthly PP and the 55– and 100-hour SMAs near 80.70 and the 200-hour SMA at 80.95. These levels could hinder the pair for some time; however, the overall trend should be to the upside.
Short
by UnknownUnicorn890690
EUR/SEK going down on all scalesThe common European currency recently reached the upper trend line of a junior descending pattern against the Swedish Krona. Due to that reason the pair can be considered at a significant crossroads for short term traders. If the pair passes the resistance, which is a lone one, it would surge first to the 100-hour SMA at the 9.50 mark and later on to the resistance cluster located from the 9.5110 mark to the 9.5165 level. On the other hand the rate might fall and search for support in the 55-hour SMA at the 9.4825 level. In addition, if the 55-hour SMA continues to decline, it will be strengthened by the weekly S1 at the 9.4796 level.
Short
by UnknownUnicorn890690
USD/SEK 4H Chart: Channel DownUSD/SEK 4H Chart: Channel Down The American Dollar is gradually loosing value against the Swedish Krone in a three week long narrow descending channel. The pattern represents a continuation of the general downtrend that has started in beginning of the year. During the last two weeks the currency rate has been moving along the 20- and 55-period SMAs, which blocked any attempts to break to the top. As a result, the pair has successfully slipped through the monthly S1 at 8.3063 and S2 at 8.1729. However, both times the drop was attributed to announcement of the ECB’s and Fed’s interest rates. Hence, when technical indicators will be updated, there is a high chance that one of them or combination of them will force the pair to make a rebound. But for the rest of the week is expected to continue to move downwards.
by UnknownUnicorn890690
Potential short reversal setting up for the Swedish KronaOn the 4H charts, the USDSEK is at an interesting point. We can see that for the most of April, the pair has been in a clean and long uptrend and is now in oversold territory (the Fibonacci extension indicates a move well over 200%). Additionally, the pair has reached a previous swing high. This clearly acts as a resistance level, which the price hasn't been able to break. Instead, a double top was created, followed by a strong move lower. For the first time in a long time, our moving average has been broken. This has all the signs of a reversal in the making. An aggressive trader might already be tempted to enter here, but I reckon that the pair will make a retracement to the 9.06000 area first as a way for the sellers to catch their breath. If we see strong selling momentum afterwards, I will be looking for a short entry. Of course, price might move lower straight away too. I've laid out some of the levels (in light blue) where I can see the price hold up a bit or even change direction. However, if the trending markets of the previous months are any indication, we might see a nice move down. Find more analysis on smartforexlearning.com and give us a follow: - on Twitter: twitter.com - on Facebook: www.facebook.com - on Google+: plus.google.com
Short
by UnknownUnicorn553472
Make or Break ResistanceAs predicted, it found support on the previous high-trend line. SEK is releasing 'Industrial numbers in within the half hour, also EUR is releasing PMI within the hour. Depending on the released numbers, I strongly believe EURSEK is a long. Buying volume seems much stronger than selling. No cash build to be seen the last week. If it breaks above the 200MA (orange line), i'm in for a long position. (I do not trade the golden cross. In my experience it's not reliable, I mostly ignore it - but if you don't like that. Stay away from this one.)
by chastic
1
Buy GBP, Dump SEK-Long term correction underway.There is a 3 bar reversal pattern in the monthly chart with oversold stochastics. For long term traders look to buy after the close of this month IF and ONLY IF November candlestick closes as a B ull bar . weekly chart is pretty strong too, look to buy with any correction in the 4 Hour chart. for day traders, trick is to buy only after a candlestick closes strongly above the 11.25 level with an oversold stochastics. Trade recommendations: Buy above 11.25, Stop Loss: 11.20 Take Profit: 1:3 risk reward ratio
Long
by Kipyegonn
$USDSEK | Bearish Wolfe Wave | 8.11510 TargetHello Traders, Here we have a nice short set up for USDSEK. I'd look for a short in the vicinity of the red box which would give us 5'. Regardless of 5' hitting or not my target is still set on 8.11510 because there is such little difference between point 1 and 4. Pay attention to the formation in the RSI, notice how a similar structure is formed. Rule: Geo's Off-Set Rule tells us the highest probability target once point 5' is created is point 4. Best, Chartistry
Short
by GWaves