SEKUSD trade ideas
USDSEK: Higher Low on 1W. Long opportunity.The pair is trading on a very long term Channel Up on a monthly basis and based on the neutral 1W indicators (RSI = 54.242, MACD = 0.104, Highs/Lows = 0.0000, CCI = -24.9765) is on the Higher Low Buy Zone. This can initiate a potential rebound which makes it a medium term buy opportunity for us. The RSI on the 1D frame has also entered the Buy Zone. Our Target Zone is 10.000 - 10.100.
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USDSEK approaching resistance, look out for potential reversal!
USDSEK is approaching its resistance at 9.67219 where it is could reverse down to its support at 9.58680.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
USDSEK - Long Idea. The Swedish Krona you ask! This pair is a heavily traded exotic, and setting up nicely for a long "scalp" .
1. MACD Divergence,
2. RSI Oversold
3.4Hour engulfing candle
4. Did run up after that engulfing candle but has pulled back to give us a better entry.
5. So close to support, I obviously like to see it even closer....but.
1% Risk 1.5:1RR -Happy Trading!
USDSEK approaching support, potential for a bounce!
USDSEK is expected to drop to 1st support at 9.67147 where it could potentially react off and up to 1st resistance at 9.76839.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
Bearish Analysis on USD/SEK by ThinkingAntsOk4H CHART EXPLANATION:
On this timeframe we observe that price is on a small consolidation at this moment. If it breaks down and the Ascending Trendline is broken, then we will wait for a corrective structure (continuation pattern) like a triangle, pennant, flag, etc. to take this trade. The first short term target is the confluence zone between the Daily Ascending Trendline and the Support Zone at 9.5800 - 9.6000. If this zone is broken, then price has potential to reach the Support Zone at 9.2500. The long term analysis is below on the Daily chart.
DAILY CHART EXPLANATION:
USDSEK approaching support, potential for a bounce!
USDSEK is expected to drop to 1st support at 9.77834 where it could potentially react off and up to 1st resistance at 9.86980.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.