USDSEK bounced from support, potential for a further rise!
USDSEK bounced off 9.55076 where it could potentially rise further to 9.87576.
*Disclaimer.*
Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
USDSEK trade ideas
USDSEK hitting the support of channel | A good long opportunityPriceline of US Dollar / Swedish Krona forex pair is moving within an up channel and now hitting the channel's support.
MACD is strong bearish and stochastic is still not oversold so I would suggest to wait for MACD to turn weak bearish or for stochastic to give bull cross then take long position.
I have used Fibonacci sequence to set the targets:
Sell between: 9.71141 to 9.83034
Regards,
Atif Akbar (moon333)
USDSEK approaching support, potential for a bounce!
USDSEK is expected to drop to 1st support at 9.55076 where it could potentially react off and up to 1st resistance at 9.87576.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
USD/SEK Short Opportunity by ThinkingAntsOk4H CHART EXPLANATION:
On this timeframe, price has broke the short term Ascending Channel and the Support Zone. Now we are waiting for a pullback or corrective movement to place sell orders, since it will provide a good zone to place the Stop Loss. The first short term target would be the Support Zone at 9.5400 and it if is broken, then the Support Zone at 9.300. The long term targets are explained on the Daily timeframe below.
DAILY CHART EXPLANATION:
USDSEK - 240 - Will the line hold?Trade idea.
For now, the upside support line held perfectly. But can it continue directing the way? Given the strong drop that we saw during the release of the Swedish interest rates, the pair is now balancing just slightly above the short-term upside line. In order to consider further declines, we need a daily close below that line. This way, the more sellers would be willing to join in and drive USDSEK lower. But until that line is broken, we will remain cautiously bullish, at least in the short run.
Please see the chart for details.
Don't forget your stop-loss.
USDSEK Smashes Through Previous ResistanceLast post: See link below.
Review: Price was at a resistance level.
Update: Price has since broken through the resistance level and appears to be in a strong linear trend.
Conclusion: We want to see if this current trend will continue to move up and break through the major 10 round number.
Any comments or questions, do not hesitate to leave them below. Give us the thumbs up if you share our sentiments!
Sublime Trading
USDSEK reversed from resistance, potential drop!
USDSEK reversed off its resistance at 9.84295 where it could potentially drop further to 9..55076
*Disclaimer.*
Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
USDSEK (Lower) Buy SignalPattern: Channel Up on 1W.
Signal: Bullish but wait for a lower entry as the price is approaching the Higher High zone. The optimal buy entry will be when it crosses again the 1D MA50 (projected around 9.60000). Every time the price broke below the MA50, it always stayed supported above the previous low.
Target: 10.00000.
* See how well this pattern worked last time:
USDSEK approaching resistance, look out for potential reversal!
USDSEK is approaching its resistance at 9.84295 where it is could reverse down to its support at 9.55076.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
Will the USDSEK Breakout?Last post: See link below.
Review: Price was in a bullish trend .
Update: Price soon moved into a circa 3-month consolidation .
Conclusion: Looking for the current bullish momentum to take price out of consolidation and towards the major round number of 10.0000. We are currently long on this and will look to compound/add further long trades once 10.0000 is confirmed as support.
Any comments or questions, do not hesitate to leave them below. Give us the thumbs up if you share our sentiments!
Sublime Trading
Strong resistance : Short trade favouredCurrently facing very strong resistance from Horizontal resistance , and trading in small range , we favour bearish because it is at top of range currently and awaiting retracement, where as you may see ascending triangle structure on chart which is bullish continuation... so wait for it.
USDSEK approaching support, potential for a bounce!
USDSEK is expected to drop to 1st support at 9.59276 where it could potentially react off and up to 1st resistance at 9.70103.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.