Fundamentally, the macro analyst I follow sees this pair going through the roof. His accuracy is over 90%.
Trading this pair is now a matter of trend following. If there wouldn't be fundamental reasoning, I wouldn't even look at a chart like this. I don't think that more than 1% of people who speculate on this pair make money. The moves are more chaotic than the...
While most of the major pairs were doing absolutely nothing worth mentioning, USDSEK on the other hand went and re-tested the weekly trendline. It is very important to look what the price does now as we need a proper lift off to have more confidence that we are done with this trendline for now.
Break of that multi year trendline in USDSEK is definitely notable. I am looking for the price to reach the area that is marked on the chart to make this break more believable. However, as this trendline carries a lot of weight, we should expect a re-test sooner or later. All in all - watching closely.
There are a few factors I'm watching here:
A. The 23.6% Fib support at 6.43792, which coincides with
B. TL support, which also happens to be
C. A key piece of the Gartley being formed
Price is nearing the apex of the triangle its currently trading in, and risk for longs is clearly defined at these levels: below that trendline on a daily close, and price could...
This is not a trade idea as no strong trend but an example to new traders of how to use MACD divergence. In the circles you can see the price makes lower lows as does the histogram. When the histogram makes significant humps like that you should expect another move in that direction after price goes back to the zero line. In the third circle you can see price...
