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Euro / Swedish Krona

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EURSEK trade ideas

EURSEK Sustains Range Breakout from the Cup & Handle PatternEURSEK had been forming Cup and Handle Pattern in a one hour time frame. Recently, the prices registered a breakout and then came back into the pattern. However, prices again managed to break through the neckline of the pattern as bulls gain momentum, creating Three White Soldiers pattern. Further, the dots of the Parabolic SAR indicator are moving below the prices, supporting the bullishness in the pair. Thus, the prices are likely to extend its northward journey and traders can grab this buy opportunity with a first profit target set at 10.29413 level, which is equal to the height of the handle. Moreover, if prices sustain above the first target, traders can hold their position towards its second target kept at 10.39156 level. Simultaneously, the stop loss can be set at 10.23975 level, near the swing lows of last four candles. Trade information 1st Take profit 10.29413 2nd Take profit 10.39156 Stop loss 10.23975
Long
by forexjames07
EURSEK hovering at 20MAThe Swedish Krona fell more than a percent since July policy review against the USD and EUR. After hitting a high in August, the crosses EURSEK and USDSEK fell nearly 2.0%. Selling pressure remains very strong, a descending channel is still in evidence in the daily chart. These dips would enable the cross to gather momentum ahead of a new round of rallies. The oversold indicators on the H4 chart indeed plead for another test of the resistance 10.60. A break of this would be needed to rally further to 10.63 and 10.67. The daily studies RSI and oscillator are remaining bearish while the cross manages to hold its 20MA. More selling would come only below 10.50 for 10.40 and 10.37.
by KeytoMarkets