Communauté
Blog
Jignesh's Blog

Jignesh's Blog

Avatar

EURSEK fakes lower before resuming uptrend

Jignesh Publié 31 oct comme Analyse sur EUR/SEK, Cible: 9.4683, Date: 1 de décembre, 12:00 GMT  dans #Technical analysis #Fundamentals #Elliott Wave #Wave Count #Up Trend #EUR/SEK #Eursek #Correction Complete
EURSEK in my previous analysis looked bearish as it broke through a long term daily Trendline.
In the past month it has managed to trade through the level making the wave count complete
Levels
9.0822 - Previous low, Daily support & Bullish invalidation level
9.3507 - Weekly Resistance area
9.4683 - Weekly Resistance and Equal legs target
9.5600 - Weekly Resistance & Fib confluence
The first chart shows a completed ABC structure to the downside. The daily resistance level has cause a bit of sell …
Lisez l'histoire complète
Traduire en Anglais Montrez l'original

Du fait que vous ne soyez pas identifié, nous ne connaissons pas votre langue mais nous supposons que c'est le Anglais
Veuillez vous identifier ou choisir une autre langue à traduire de la liste.

– ou –

4 Commentaires
Jignesh avatar
Jignesh 5 nov

The pair has completed one more swing lower to test the 9.20 area.  There is a  good fib confluence in this area, as well as a S/R level, as well as the previously broken Daily Trendline.  If this area fails, the last line in the sand for the pair is 9.14.  Major risk event for the pair in the next 24 hours with the ECB press conference on the docket.

Jignesh avatar
Jignesh 10 nov

The ECB Press conference was a concern for the bullish momentum, but as per the chart above, you can see that it merely caused a spike down.  Meaning the bulls stepped in quickly to buy at lower prices, to bring it back to intern support. 
As per the chart, while remaining above the blue box, the pair still carries good upside potential.  A break would signal the next support at 9.14

Jignesh avatar
Jignesh 17 nov

EURSEK slowly continues higher with very little momentum.  The upside looks promising as it remains above support, however evidence of buying is not necessarily present.  Will require some form of a catalyst most likely through NOK or SEK to gain momentum

Jignesh avatar
Jignesh 25 nov

The pair continues to grind higher against the daily trendline.  The EUR weakness seen on the back of a statement from Draghi had a minor impact on this pair, however it's struggling to gain momentum

oupour laisser des commentaires
Avatar

EURSEK Expected lower after breaking through Daily Trendline

Jignesh Publié 30 sep comme Analyse sur EUR/SEK, Cible: 8.9286, Date: 3 de novembre, 12:00 GMT  dans #Technical analysis #Ecb #Trendline #EUR/SEK #Eursek #Monthly Resistance #Pull Back

Overview
The EURSEK is in a clear uptrend on the daily chart.
On the daily chart, the pair has just broken through it's long term trendline.
The ECB has been implementing monetary policy that is bearish for the EUR, although the effects have not been harsh on this pair as it has been on others, we may see the effects clearer this month as the pair struggles at Monthly resistance
Levels
9.1830 - Daily Spike high Sept 30 (Trendline break Candle / Invalidation)
9.0730 - Daily 200 Moving Average
…
Lisez l'histoire complète
Traduire en Anglais Montrez l'original

Du fait que vous ne soyez pas identifié, nous ne connaissons pas votre langue mais nous supposons que c'est le Anglais
Veuillez vous identifier ou choisir une autre langue à traduire de la liste.

– ou –

6 Commentaires
Voir 1 plus de commentaires
Jignesh avatar
Jignesh 2 oct

Thank you Stix, to you as well

Jignesh avatar
Jignesh 6 oct

The pair has mostly been consolidating sideways last week after a statement from the ECB that was not as hawkish as the market anticipated.  Will be monitoring the price here to see which way it breaks from consolidation.

Jignesh avatar
Jignesh 9 oct

After faking to the downside, the pair has been bid up to retest the daily trendline.  So far the candlestick on the 4 hour chart confirm a reversal. 

Jignesh avatar
Jignesh 13 oct

The daily chart has posted a bearish engulfing candle against the trendline.  Expecting a minor retracement before the downtrend starts gaining momentum.  9.1634 is the key resistance level for pressure to remain to the downside.

Jignesh avatar
Jignesh 16 oct

SEK has been bearish on speculation of a further rate cut after a lower than expected inflation number drove the pair higher in a swift move to retake the trendline.  From a fundamental position, the pair does not have a bearish outlook.  As well the technical setup is considered invalid at this point as the price holds above the trendline

oupour laisser des commentaires