After today's morning, when the Riksbank left the rate unchanged, we saw some selling in the SEK, which pushed the EURSEK higher, towards the recent high at around 10.49 level.
At the moment we are seeing a struggle in breaking that level, but the pair still has got some time.
If the Fib extension is correct, then there is a chance for EURSEK to to break the 10.49 and move towards the 1.618% extension, which is around 10.59 area. This idea could also be supported by the upwards moving channel that the pair is currently trading in.
That said, if the 10.49 level holds, then we could see a double top forming on this daily chart.
Be careful and keep an eye on the price action!
At the moment we are seeing a struggle in breaking that level, but the pair still has got some time.
If the Fib extension is correct, then there is a chance for EURSEK to to break the 10.49 and move towards the 1.618% extension, which is around 10.59 area. This idea could also be supported by the upwards moving channel that the pair is currently trading in.
That said, if the 10.49 level holds, then we could see a double top forming on this daily chart.
Be careful and keep an eye on the price action!
Note
Target achieved.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.