EURSEK made a double bottom, looking at the weekly and monthly charts we can see that after breaking multi year high it retested it.
The trend is obviously bearish on the Krona. Buy the dip... Sweden economic future is grim.
The price managed to break the first resistance and make a bull flag.
If it breaks the second one it could easilly go retest this decade high (around 10.5-11).
It could go past that but then in the 11-12 area price is at ath and it might be a formidable resistance.
The USDSEK situation is a little different. It is retesting ath and has not bounced that much yet.
EURSEK is more relevant imo. USDSEK will follow...
I moved my stop loss up, but am I not adding to my winner due to europe regulation restrictions. Need my capital for other things.
Interesting trade:
I will take profit but can aim higher. Maybe.
The trend is obviously bearish on the Krona. Buy the dip... Sweden economic future is grim.
The price managed to break the first resistance and make a bull flag.
If it breaks the second one it could easilly go retest this decade high (around 10.5-11).
It could go past that but then in the 11-12 area price is at ath and it might be a formidable resistance.
The USDSEK situation is a little different. It is retesting ath and has not bounced that much yet.
EURSEK is more relevant imo. USDSEK will follow...
I moved my stop loss up, but am I not adding to my winner due to europe regulation restrictions. Need my capital for other things.
Interesting trade:
I will take profit but can aim higher. Maybe.
