The major trend is still up, but during the last 4 months EURSEK has been moving rather sideaway within the horizontal range and the trend channel. It had a false break of the trendline in October, followed by a spike up, espec after Riksbank unexpectedly cut base rate.
Ichimoku lines are flat, Chikou Span is hitting Price candles too, MACD has no clear signal...
From larger timeframe I can take a strong bearish week below 3 months low.
I am now looking at a neckline retest and there is a channel of sorts with macd divergence from the recent peaks.
Price remains below the f6 from the downflow that I have identified.
My bias is wrong if it should day CLOSE strongly below the green lines.
Spikes are not considered SL for...
Daily: What we have seen in last two days was a fake bullish reversal attempt. Price action finally ended up in a bearish candle yesterday, buying was rejected at Key Level (which was previously a multi month support for Bulls).
Tenkan/Kijun still in strong bearish cross, price is below Kumo and Kijun Sen, Chikou Span is below Price and Kumo, future Kumo is...
EURSEK turned so nice today, it's a beauty. I expect it to rally in the coming days, and if 9.35 breaks, I expect a wild ride for a few weeks. Impulse is green, candle is very bullish, everything is in place for a rally!
Weekly chart in the related charts section, we are still in a rally!
No more comment, pls see my previous posts on EURSEK.
Daily: The trend line is still there to hold.
4 Hrs: Given the oversold Slow Stoch, we may still see a pull back, which can be a really good opportunity to sell
Important note: On SEK general mkt positionning is extremely short! SEK bears will be grilled at some point.
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...
... for a move. Direction is still unclear. Given the sufferring of the EUR I'd say we'll rather see a bearish breakout, but I am not yet sure. The good old advise is: wait until it happens! You may miss some of the early move, but you'll have a lot better risk-reward.
Daily: It has been moving sideaway for about a month now! DMI-ADX is clueless, so is the Slow...
Weekly chart is pointing up (see chart in the linked section), time to look for daily entries. This chart looks fantastic. A corrective double bottom with a divergence at a strong support area, while the weekly stands at value. It can't get much better than this.
I'm looking to build up a position, and not to take one signle trade. As with all my position trades,...
EURSEK started an uptrend and it doesn't look like theres anything to stop it. I think higher prices are going to come. 10.0000 is a great level to watch for.
Actually so far rather the EURNOK bearish move has put some pressure on EURSEK too. But it's time to watch this pair for more closely as it has more room to accelerate, if it starts to live some independent life.
I've been short for a while based on my previous idea (see link below), now I am thinking about to add.
Daily: Price is touch below the Kumo, but it...
Daily: Bullish trend got exhausted. ADX down sub 20. Price enterring Kumo, and Chikou Span is slowly coming below Price candles. Real bearish reversal would take place below 9,1450, bearish acceleration would come below 9,04.
MACD bearish, Slow Stoch sell signal.
4 Hrs: Bearish DMI cross with ADX at 28. Price dips below recent Kumo and the bullish trendline....
... will it trade in a wider range top? It is hard to tell now.
In fact it is very hard to be bullish on EUR, and frankly speaking SEK has not strengthen any against Euro so far this year. I still believe later this year this can be one of the biggest and best reversal trades. But do not forget, you can not predict anything. Price goes where it wants to go. You...
This chart is really interesting and worth to put it on the radar from now. Actually SEK is a lagging ccy against EUR. It has not performed at all during the EUR selloff since mkt started to price ECB decisions and not even since ECB announced its decisions.
Daily: Bearish DMI and slowly turning but still very low ADX / MACD bearish / Slow Stoch bearish.
What is...
This post is rather an observation than a trade idea.
While the trend and daily Ichimoku setup is massive bullish, I think these are tipical signals of a possible short term trend exhaustion, when one being long should think about taking partial profit:
- Daily MACD turning down
- Slow Stoch turning down
- DI+ line crosses the ADX at high level
- pin bars and...
