EURSEK if it breaks the red line then we will see short testing 9.31290. My forecast for that pair for end of the week 9.46000
The pair will continue to remain somewhat volatile as the Euro-Zone faces a myriad of issues.
EURSEK trade ideas
EUR/SEK – Eyes rising trend line supportDespite pair’s rebound from around 50-DMA level yesterday the subsequent failure at 10-DMA and a retreat below 5-DMA amid bearish daily MACD and bearish 5-DMA and 10-DMA crossover suggests the pair is heading back to 100-DMA support at 9.48 and may actually breach the same for a drop to rising trend line support at 9.43.
Also note the evening start formation on the daily chart.
Action point reached!!A strong resistance here time for shorting this pair, if prices show bearish pattern.
EURSEK Bulls are backTraders,
We've had a perfect Hammer candle after a retracement to the 0.5 level.
We had a great impulse leg before that shows us the price is moving up!
This could be a very nice oppertunnity.
Best regards,
Possible Head and Shoulders pattern, minor bearish biasI opened 0,5 trade unit EURSEK short today. As you might have seen on my Twitter feed, I have been watching it for few days.
- Ichimoku setup is more neutral. Kumo shades price ahead, price is below Kijun and Tenkan/Kijun is weak bearish.
- Price retraced to Kijun from Kumo, but has failed to break above 9,50 key supp/res for last 5 trading days.
- Heikin-Ashi candle is small red today but with still both upper and lower wicks. haDelta/SMA3 is below zero now. haOscillator is ticking lower. -> not yet decisive, no real bearish momentum, just initial bearish bias.
- High probability to develop a Head and Shoulders patter, but as all patterns this needs confirmation too. Basically we need a break below 9,41 neckline. Then possible tgt comes ard 9,20.
Market has some bias, but the setup has not yet confirmed. For this reason I opened only 0,5 trade unit today at 9,47, with a wider initial stop at 9,5550. This provides a better expected Risk/Reward, but still not much outright nominal risk. Looking to add below 9,41, and trail stop for the full size later.
FX00102 - EURSEK - Rebound of Fib 38%Made a helathy profit following this pairs bullish uptrend, but the pair sold off on the 2-Aug, probably due to profit taking at 9.6000. Price has retraced back to the Fib 28% level and formed a perfect rounded bottom on the 1hr chart.
I actually spotted this trade at 9.4855 but decided to wait for confirmation that price had broken the Daily 8EMA resistance. Still it offers a potential 3.5 x risk.
FX00102 - EURSEK - Rebound of Fib 38%Made a helathy profit following this pairs bullish uptrend, but the pair sold off on the 2-Aug, probably due to profit taking at 9.6000. Price has retraced back to the Fib 28% level and formed a perfect rounded bottom on the 1hr chart.
I actually spotted this trade at 9.4855 but decided to wait for confirmation that price had broken the Daily 8EMA resistance. Still it offers a potential 3.5 x risk.
EURSEK - Short from Market topThe pair that nicely shown reversal from market top, wait for right shoulder to be form.
EURSEK market top?another interesting setup right now is the EURSEK after is has moved into the 9.6 and faked the previous high. The 20 SMA broke afterwards with a strong momentum candle but price bounce off the trendline and demand cluster.
The signal here will be a confirmed break of the trendline. To the downside there are a few potential short targets.
eursek sell opportunity but be carefulThe SEK has weakened sharply on Brexit and housing market concerns. However, valuations and growth are supportive for the SEK medium term.Positioning and technicals suggest this is a good time to buy SEK.
Entry level: 9.5960
Target: 9.3000
Stop-loss: 9.7600
#EURSEK-Update: Bull Momentum At Resistance, In The MoneyPair has moved well since I last posted (See related ideas) well done to my exclusive signals group members who got this move with me. We are in a comfortable profit and holding. Hope you had a tested trading strategy to catch this move.
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#EURSEK: Bull Momentum At Resistance, Time To Break Out?A nice morning star right up at the historical resistance, on the sideways support line suggests we are likely to break structure to the upside. The morning star under resistance shows investors could be ignoring the level- with ambition to take the price to the highs of the range.
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reversal coming?the daily inner trendline makes for a great reversal point on the h4. looking to see what the indicators do in the meantime.
