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.
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.
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