USDSEK
Elliott Wave View: USDSEK Impulsive Rally Should ExtendShort Term Elliott Wave view suggests cycle from December 6, 2021 high has ended with wave (4) at 8.896. Internal subdivision of wave (4) unfolded as a Flat Elliott Wave structure. Down from December 6 high, wave A ended at 9.0025 and rally in wave B ended at 9.1494. Pair then extended lower in wave C towards 8.896. We can see in the 45 minutes chart below the internal of wave C subdivided as a 5 waves impulse. Down from wave B, wave ((i)) ended at 9.0613 and rally in wave ((ii)) ended at 9.1037. Pair then extended lower in wave ((iii)) to 8.9025, wave ((iv)) ended at 8.941, and wave ((v)) ended at 8.8961. This completed wave C and (4) in higher degree.
Pair has turned higher in wave (5). However, it still needs to break above December 6, 2021 high (9.1859) to rule out a double correction. Up from wave (4), wave (i) ended at 8.939 and pullback in wave (ii) ended at 8.903. Pair then extended higher in wave (iii) towards 9.036, and pullback in wave (iv) ended at 9.0153. Final leg higher wave (v) ended at 9.0429 and this completed wave ((i)) in higher degree. Near term, wave ((ii)) pullback is in progress to correct cycle from January 13, 2022 low before the rally resumes. As far as pivot at 8.8961 low stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.
USD/SEK LongUSD/SEK seems to have formed a double bottom pattern and is now moving higher towards well defined resistance zones. Shorter term it has formed a small double top which could see prices move down to support and clear out some stops before climbing higher. It may simply push higher and breakout from here though as well.
OANDA:USDSEK
USDSEK Wave X ?BullishQuite likely.
We are in a general bearish pattern on this one, now in respite. The latest set of waves do not for a 5 wave impulse in my opinion. It just doesn't have the look, let alone fulfill the extension rules of EWT. It is more in line with "double two" that Mr Elliott described so many years ago. I am willing to put a number of fibgoals, more based on the huge zigzags preceding these short, small spurts of growth.
As always, this is not financial advice, so please do your own research.
USDSEK Lower Highs On The Daily Chart, Weekly Chart, H4 ChartLower Highs are pushing into trend line support. Wait for confirming price action signal like a pin bar for an entry. Lower Highs are present on the Daily, Weekly Chart, and H4 Chart.
EMA 10 EMA 20 are pointing downwards on the time frames mentioned.
USDSEK: nice daily LONG oppportunityHi Traders,
This is my view on this cross for the next few days.
#USDSEK
Waiting for the price to break 8.6, which is a very important MONTHLY resistance.
As it will become support we can go long on the retest
BUY 8.6
SL 8.426
TP 8.94
I remind you that this is only a forecast based on what current data are.
Therefore the following signal will be activated only if specific rules are strictly respected.
If you follow my strategy you will be able to identify the right filters and triggers to enter correctly the market and avoid fake signals.
I really hope you liked this video and I would like to know what do you think about this analysis, so please use the comment section below this video to give me your point of view.
Thank You
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