ING bank keeps spreading fear about the SKrona. "Their central bank is dovish, will put it under pressure".
They announced yesterday they reached their targets of 10.60, this could be when every one takes profit.
On the higher time frames, we can see there is a resistance in this area, might be a little higher depends how you draw it, but it is approximately in that area.
So I am not aiming for the SEK to gain strength long term, but I am betting on a bounce.
Also, the EURO is no longer on an upity upitytrend, might dump soon. The SEK right now is not super negative, it is neutral (and at ING traders target and at resistance), until the 12 March (When the Swedish bonds mature). I see no reason to short the SEK until then.
If it is neutral and the euro bearish well...
The euro has been in a bear market for almost 1 year now. A dump looks imminent.
They announced yesterday they reached their targets of 10.60, this could be when every one takes profit.
On the higher time frames, we can see there is a resistance in this area, might be a little higher depends how you draw it, but it is approximately in that area.
So I am not aiming for the SEK to gain strength long term, but I am betting on a bounce.
Also, the EURO is no longer on an upity upitytrend, might dump soon. The SEK right now is not super negative, it is neutral (and at ING traders target and at resistance), until the 12 March (When the Swedish bonds mature). I see no reason to short the SEK until then.
If it is neutral and the euro bearish well...
The euro has been in a bear market for almost 1 year now. A dump looks imminent.
Note
I think we are about to lose this uptrendNote
Might move soon... Come on already!Note
Literally less than 5 seconds later...All I had to do was ask :D
Note
Barely hanging onto the second support.Note
Trade closed: target reached
OUT OUT OUT! This is it, take our 1%/1000 pips and get OUT.What a massive rally of the SEK. Wonderful.
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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.