Only Safe to go Long? EUR/SEKDivergence in both, RSI and MACD
Possible reversal to target tje 0.5 zone of fibbonacci?
SEKEUR trade ideas
EUR/SEK BULLISH OUTLOOKRecent developments in the European Central Bank (ECB) and the Swedish economy are shaping the euro (EUR), Swedish krona (SEK), and their exchange rate (EUR/SEK):
ECB's Hawkish Stance: Strong messaging from ECB hawks for tighter policy before the September meeting contrasts with market expectations below 50%. Despite explicit statements and a hawkish tone from President Christine Lagarde, market pricing remains stagnant.
Data Dependency and Inflation: The ECB's data-driven approach hinges on this week's inflation data. Predictions of slight core CPI inflation slowdown to 5.3% from 5.5% could trigger a 25 basis points rate hike in September. US payroll numbers also play a role.
Swedish Data: Better-than-expected GDP and retail sales data in Sweden show Q2 contraction of 0.8% (previously -1.5%) and 1.0% growth in July retail sales. The krona already reflects economic underperformance and real estate risks.
Upcoming in Sweden: Wage figures, economic survey, manufacturing data, and Riksbank's Anna Breman's inflation panel pose events to watch.
EUR/SEK Outlook: Core inflation support for an ECB hike could pressure EUR/SEK upward. But improved external conditions and strong Swedish data might ease EUR/SEK from recent highs.
On a technical front, MACD is supporting the bullish outlook, while RSI remains neutral at this point.
If the trend continues, the currency pair might test its resistance level at 12.0417. In the opposite scenario the pair might go down to 11.8065
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EUR/SEKHi, guys look at my 6july short signal in Eur/Sek....now you can cover your short if you put 1000usd in this position with leverage 2 now you have 30 dollar profit .
if you are amatur please make your position in forex 100usd and increase your budget little by little .
Good luck
EUR/SEKHi Guys ....
I am bearish on EUR/SEK forex .....
I opened my first short level at 11.9083 (100usd_leverage 2) and i will add to that on 12.43_12.53 ...... okay guys open your short and then I will keep you posted any change i see ...
Good luck .
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.
EURSEK: Bearish Divergence at the PCZ of Bearish SharkWe have 3 instances of Bearish Divergence just pass the PCZ of the Bearish Shark and it now looks to be testing those highs perhaps for the last time before it begins to fall.
W9.1-15 EURSEK BEARISH IDEA (DOUBLE TOP)Potential Bearish Entry
Dow Theory In Place - Lower High and Lower Low Expected in Place
Formation of DOUBLE Top coupled with bearish divergence (Bearish reversal pattern)
SL & TP Levels are defined.
Euro/SEK going upCan Euro/SEK get back to the trend channel? Maybe. Lets see.
- Fake break down
- Bullish 4 hour signal
- Oscillitor looks bullish too.
SEK/EUR Trend reversalWe can see a bullish divergence on daily timeframe. The downtrend has been broken, as the price broke above the major resistance line which can be a possible trend change. The blue path shows potential progression. If the price retests previous resistance and confirms it as a support it would be a confirmation for bulls and the long position can be taken.
Take profit and final target are shown on the chart-
EUROSEKThe pair has imprinted bearish momentum since the beginning of 2023. There is break of structure on the DTF, a confirmation of CHOCH. We anticipate a bullish correction targeting the fair value gap (FVG) or the unmitigated OB. We have two pints of entry, the FVG(aggressive) or the OB siting higher(conservative) 6.9 and 7.2 RR respectively.
EURSEK SELLStrategy:
Short term overvaluation/price mean reversion
Risk/reward Ratio 5.2
Manage risk properly.
2 SCENARIOS ON EURSEKHello guys! Here we have 2 possible scenarios on EURSEK, but as trading si all about reacting correctly not predicting, we should firstly wait for a break in any direction, and only after that we can be looking for an entry at the retest. What do you think? I would consider a long position based on the other technical indicators, such as oscillators and moving averages. OANDA:EURSEK
EURSEK: A pull-back from resistance expected [10.98/10.95]The EURSEK pair is recovering toward key resistance zone between 10.95/10.98. It seems however, the pair has lost its strength to break above the resistance zone. From a technical point of view, the pair chart shows that it has failed twice to cross key level around 10.95.
EURSEK $EURSEK Initial ShortEURSEK $EURSEK Initial Short. This is a pure momentum signal just as are every other signal I post. ZERO other factors are considered in producing this signal.
Entry reasons: EURSEK is showing momentum and confluence of mean reversion crossing up the 70 day price mean.
Exits and SL: TP and SL on chart. Move SL on TP. After TP2, trail with 0.5xATR step and 1.5xATR offset.
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
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