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Euro / Swedish Krona

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EURSEK trade ideas

EURSEK July 4th, 2023The Swedish economy will not shrink as much as previously expected, and the level of unemployment will stay relatively steady, according to a government agency. However, high inflation and higher interest rates have had a negative impact on Swedish households, leading to a significant decline in housing construction. This, along with a slowdown in exports, will result in a 0.4 percent decrease in the country's gross domestic product (GDP) in 2023, which is less severe than the 0.6 percent contraction predicted earlier. Despite the economic downturn, there are no clear signs of weakening in the labor market. Unemployment is projected to be 7.5 percent in 2023 and is expected to rise to 8.1 percent in 2024 before declining in subsequent years. Inflation is predicted to remain high at 8.7 percent in 2023 but will decrease to 2.7 percent in 2024. Inflation is then anticipated to drop to 1.2 percent in 2025 before slightly surpassing the Swedish central bank's target of 2 percent in 2026 and 2027. The Riksbank, Sweden's central bank, has raised interest rates to address inflation, with a further increase expected before a subsequent reduction in 2024. The interest rate will then be maintained at 1.75 percent from 2025 to 2027 following additional cuts.
Short
by DNP-FX
3
EURSEK: Dips worth buyingEURSEK Intraday - We look to Buy at 10.6539 (stop at 10.6164) The medium term bias remains bullish. We look to buy dips. Our short term bias remains positive. Downward pressure has continued and we are assessed as being in the corrective leg lower before the next rally. Previous support located at 10.6500. Our profit targets will be 10.7529 and 10.8182 Resistance: 10.7600 / 10.8000 / 10.9000 Support: 10.6700 / 10.6500 / 10.5859 Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
Long
by VantageMarkets
EURSEK: Relief for Euro?EURSEK Intraday - We look to Buy at 10.5061 (stop at 10.4602) Preferred trade is to buy on dips. Downward pressure has continued and we are assessed as being in the corrective leg lower before the next rally. There is scope for mild selling at the open but losses should be limited. We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher. Our profit targets will be 10.6593 and 10.6918 Resistance: 10.6600 / 10.7000 / 10.7500 Support: 10.5000 / 10.4500 / 10.4000 Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
Long
by VantageMarkets