USDSEK: At an ideal level to go longThis is a potentially nice long term position trade setup.
Once this pair closes and forms a low above 8.50, it will be extremely likely to see continuation to eventually reach the target on chart or even higher.
Fundamentals for Sweden are not looking good currently, and the yield in this pair might be a big driver for this uptrend.
Pairing the Swedish Krona with other high yielding currencies might prove specially rewarding for long term traders (AUDSEK, NOKSEK, CNHSEK).
If interested in my trading signals, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year.
Cheers,
Ivan Labrie.
SEK
Swedish Krona - Just above long term support.I've been looking to this chart for a long time now, and we may find a good risk/reward short entry on that currency.
On the right
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SEK is now very close to bounce at least on monthly support.
On the left
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Between EUR/SEK and USD/SEK, I prefer USD/SEK where we can find a good short entry in the following days.
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Short from 8.13610
Stop Above 8/1 Gan fan lines 8.19
Multiple Targets at fibonacci retracements level. (double digits Risk/Reward - You can be more loose on the stop loss).
Improve:
It's maybe not the most optimal pair to short vs dollar so you may find a better strong/weak pair on other exotics. Do you researchs.