This has rebounded from the support level and is now rising again. MACD is turning higher and has stayed above 0 so is still bullish, also EMA's did not cross lower. Target is 12.860 at next resistance (chart does not go back far enough to see this for some reason).
Hello everyone, if you like the idea, do not forget to support with a like and follow.
on DAILY: SEKJPY is sitting around strong resistance in blue so we will be looking for sell setups on lower timeframes.
on H1: SEKJPY formed an objective trendline in red and a head and shoulders pattern so we are waiting for a momentum candle close below its last swing and...
Hello everyone, if you like the idea, do not forget to support with a like and follow.
Here is the top-down analysis for SEKJPY, feel free to request any pair/instrument or ask any questions in the comment section below.
Best of luck!
Hello everyone, if you like the idea, do not forget to support with a like and follow.
on DAILY: SEKJPY is sitting around strong supply in blue so we will be looking for sell setups on lower timeframes.
on H1: SEKJPY formed an objective trendline in red so we are waiting for a new swing to form around it to consider it our new trigger swing.
Trigger: Waiting...
📍 USDSEK Long Term Macro Map
After the " Moment of Truth for SEK " flow, which was so difficult with its own inherent positional issues, the next update here should appear all too straightforward again. Of course a well planned macro flow does not have to last forever; a dollar devaluation swing which only crops up occasionally, in fact can even threaten the...
The pair is neutral on 4H (RSI = 51.094, STOCH = 45.249, ADX = 19.312, Highs/Lows = 0.0000) as it is on the median of a Bullish Megaphone pattern. Having made contact on a Higher Low last week, we are expecting a new Higher High. Long, TP = 11.550.
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Comments...
TP = 12.700 hit as the price completed the bullish 1D leg within the 1W Rectangle (RSI = 49.145, Highs/Lows = 0, Ultimate Oscillator = 50.485). After hitting the 12.845 Resistance, the pair is expected to move towards the 12.000 support. We are short again with TP = 12.200.
TP = 12.283 hit on SEKJPY as the 1W Rectangle declined and even marginally crossed the 12.050 Support to form a new base at 11.973. This doesn't alter our support-long/ resistance-short strategy, as the pair is showing significant bullish reversal bias on 1D (overbought STOCHRSI, Williams, CCI, ADX = 22.908, RXO = 2.123). Going long, TP = 12.700.
TP = 12.792 hit as SEKJPY continues the very controlled sideways trade on the 1D Rectangle (RSI = 52.414, STOCH = 49.962, CCI = 9.9279, Highs/Lows = 0). We continue to trade within its ~ 12.100 - 12.850 range, opening a short now, TP = 12.283. Even 1W is neutral on RSI, Highs/Lows, Ultimate Oscillator.
SEKJPY has price a Higher Low on the 4H Channel Up (RSI = 66.713, Highs/Lows = 0.0449, B/BP = 0.1010). This is a long call, TP = 12.792. The upside is limited on 1D to a 12.845 Double Top.
