I think at some point it can become one of the next major EUR cross shorts. But not yet.
It is still moving sideaway, with maybe some bearish bias now.
Why do I put this chart on then? The reason is that if once it breaks the key support, it can start a massive bearish trend. The Key levels are still the same: 9,1440 - horizontal support below the Kumo and more importantly 9,10 - the long term uptrend line.
Of course there is still possibility that the major uptrend may continue, but given the ECB's dovishness and the fact that the mkt is pretty short on SEK in general (mainly vs USD), the probability of a trend reversal is somehow increasing.
Place your alerts, not to miss it! Anyway, I will call your attention in time, so if you keep on following me, you'll have the alert in time. :-)
It is still moving sideaway, with maybe some bearish bias now.
Why do I put this chart on then? The reason is that if once it breaks the key support, it can start a massive bearish trend. The Key levels are still the same: 9,1440 - horizontal support below the Kumo and more importantly 9,10 - the long term uptrend line.
Of course there is still possibility that the major uptrend may continue, but given the ECB's dovishness and the fact that the mkt is pretty short on SEK in general (mainly vs USD), the probability of a trend reversal is somehow increasing.
Place your alerts, not to miss it! Anyway, I will call your attention in time, so if you keep on following me, you'll have the alert in time. :-)
