Can USDSEK reenter the Tradingbox or will the selloff go on?
The pair is trading sideways since march 2015 . The tradingbox covers from 8,05 (Buying Zone) - 8,77 (Selling Zone)
This week we see a Breakout on the downside. The Pair left the tradingbox, the former Supportzone turned into a possible resistancelevel.
IMO the Zone between 7,85 - 8,2 seems to be neutral - here i don`t think a trade makes sense.
As Long as the Pair is trading below the mentioned box, the Szenario is clear bearish!
3 trading- ideas:
LONG:
If usd/sek can reenter the tradingzone, the possible upmove can rech to the tradingboxs upper edge at 8,77. For this Szenario 2 trades are thinkable:
-Cyclical Long-Setup (reduced risk): stoppbuy at 8,17, SL 7,88 TP 8,77
-Anticyclical Long Setup (risky): Entry at the actual Level, same SL, same TP
Short: Stoppsell below the last LOW at 7,85 (and below the 38,2 fibo), SL 8,17/ TP 7,2
This week we see a Breakout on the downside. The Pair left the tradingbox, the former Supportzone turned into a possible resistancelevel.
IMO the Zone between 7,85 - 8,2 seems to be neutral - here i don`t think a trade makes sense.
As Long as the Pair is trading below the mentioned box, the Szenario is clear bearish!
3 trading- ideas:
LONG:
If usd/sek can reenter the tradingzone, the possible upmove can rech to the tradingboxs upper edge at 8,77. For this Szenario 2 trades are thinkable:
-Cyclical Long-Setup (reduced risk): stoppbuy at 8,17, SL 7,88 TP 8,77
-Anticyclical Long Setup (risky): Entry at the actual Level, same SL, same TP
Short: Stoppsell below the last LOW at 7,85 (and below the 38,2 fibo), SL 8,17/ TP 7,2
Trade closed: target reached
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