EURSEK short intraday/swing trade opportunity Sell 10.43304 T1 10.41351 T2 10.39989 SL 10.45483 Channel down short entry on pullback
It's been 5 months now since EUR/SEK has been sailing under the Daily 50 EMA. It has now also broken the Daily 200 EMA. What we can expect to happen next is a complete breakout of the 200 EMA and the beginning of a long term bearish move. The confirmation that we need is for the price to fail to move and find support back above the Daily 200 or 50 EMA. If it...
EURSEK : Price is consolidating. It will break out very soon. The double top indicates it may break out to the downside, however we need to wait for confirmation because price is at a very strong support level. EURSEK
FOREXCOM:EURSEK This is currently in a strong uptrend, however a reversal may occur after it reached the previous high (Peak to the left). It is best to allow this to run and put on a short position after the support level is broken. Will still need to watch and make sure there is no bounce on the lower trend line.
We can see EUR/SEK drop till 10.55 as it's Friday and some long positions are being closed. Furthermore, as the currency makes lower lows, it will drive the fear of the bulls and they will close their positions to secure their profits, making EUR/SEK fall. If you do trade this pair, do not risk more than 1% as it's very high risk. Also, take into consideration...
An high short pressure on high timeframe will drive the cross to lower price Overbought EURUSD will help the tank
As predicted, it found support on the previous high-trend line. SEK is releasing 'Industrial numbers in within the half hour, also EUR is releasing PMI within the hour. Depending on the released numbers, I strongly believe EURSEK is a long. Buying volume seems much stronger than selling. No cash build to be seen the last week. If it breaks above the 200MA (orange...
If the trend keeps going as is we should expect a continuation downward to 9.45 area. Top lines candles are good to short if no reverse or bullish signals kicks in with enough strenght. Stay safe, and Good Luck! (My SL is at 9.56, TP1 is 9.48, TP2 is 9.445)