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EUR/SEK Stays in Range All of 2017

The EUR/SEK is having another ranging year. The pair opened 2017 around the 9.57 handle is now quoted at 9.61, a percentage change of less then half of 1%.
But going back in time doesn't change the picture (see below). Here too we're seeing this currency pair locked in a range most of the time too. In fact except for a brief excursion above the 10 round figure during the US election last year, the EUR/SEK stayed remarkably flat.
The larger range spanned from 9.11 to 9.80, or around 7 percent. Th…
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Range-bound Moves Persist in EUR/SEK

The smaller range-bound moves persist in the EUR/SEK. The pair opened March around the 9.55 handle and is currently trading at 9.4533, a percentage change of just over 1 percent. The chart also demonstrate a classic V-shaped reversal pattern.
Our second chart below also shows this V-shaped pattern but on much bigger timescale, the weekly chart. Here too we're seeing the EUR/SEK range-bound behavior.
This currency pair keeps being brought back to the 9.50 area, no matter how much it tries to stra…
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Swedish Krona Stays Flat in July

The Swedish Krona stayed mostly flat during July. The pair opened the month at 9.62 and closed it at 9.55. In percentage terms this is only 0.73%.
The chart above shows that this range narrowed further during the second part of the month. During this time-period the EUR/SEK moved between a low of 9.50 and a high of 9.62. But most of the time was spend in the middle of this range doing nothing.
On the longterm weekly chart above we see that the current smaller 4h range in right in the middle. In …
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Multiple Studies Says EUR/SEK to Stay Near Longterm Average

This is one of those pictures that's worth a thousand words. The chart below shows mutiple studies confirming my view that the EUR/SEK will stay near its long-term average. First we have the 200 month moving average in blue. It's currently at 9.277, only 5 percent away from the current market price. This means that the current price is just a few days worth of trading away from its average during the past 16 years.
If that doesn't show you the state of this currency pair, there's more! Notice th…
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False Breakout for the Swedish Krona

The Euro rallied strongly against the Swedish Krona at the end of October. It even broke above the long-term resistance near 9.7300. But as can be seen on the chart below, all those gains evaporated in a span of few weeks. We are now quoted at 9.7713, only 0.41% away from the 9.7300 breakout point.
The strong rejection of the upside move and the near-complete retracement to the breakout point suggests that the rally in this pair is over. As we can see on the chart below, all previous breakouts, …
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Gains for EUR/SEK WIll Not Last

The EUR/SEK finally managed to break above a two-year resistance line at 9.7256. But I don't think these gains will last and here's why. We're now quoted at 9.9140, only 1.9 percent away from the resistance. This is a fairly small amount.
But more important, this type of breakouts have happened many times in the past few years and it always ended in tears for the bears. Take a look at the chart below. We mark several bullish breakouts and they all ended with prices reverting deep towards the mea…
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fxsurprise8 avatar
fxsurprise8 28 Нояб.

So far the general theme of my forecast has been correct. The EUR/SEK is currently quoted at 9.7746, well below the highs reached back in October.

As recent history shows (see the second chart above) breakouts in this pair tend to fail. After hitting a high of 10.0808 on US election day, it has been down ever since for the EUR/SEK.

Few days ago we hit a low of 9.7409 and we're now trading at 9.7746, about 1.4% away from my forecasted price. Let's hope that mean-reversion kicks in again, this time pushing prices higher from oversold territory.

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Overhead Resistance Continues to Keep a Lid on Prices

The overhead resistance in the EUR/SEK continues to keep a lid on prices. On the chart below we can see a general area between 9.600 and 9.7200. Notice the many spikes near this area in the past. This signals strong selling pressure.
We are currently quoted at 9.6252, so we're right inside this resistance area. This means that any price gains should be minimal. In September we traded to a high of 9.6654 but the pair again met heavy selling to bring it down to current levels around 9.62-9.63 Euro…
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EUR/SEK Nearing Resistance Cluster

The EUR/SEK is again nearing a resistance cluster. On the chart below we can see all the different times this area has been tested in the past. Once at 9.72 then at 9.68 then at 9.67 then at 9.61 and finally at 9.60. But while the exact level of the bounce varied, in each of those instances the bulls were repelled.
On the lower timeframe we can see a similar range-bound scenaro playing out. All summer we've stayed in this range albeit with some bullish bias. I think this bullish bias will limit …
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fxsurprise8 avatar
fxsurprise8 29 Сент.

Prices have again been repelled at the resistance cluster noted in my original post above. On September 26th the bulls bid up the pair to a high of 9.6654 but here the sellers took charge again.

The slight bullish bias persists but the existence of that resistance area is doing a good job at containing prices.

We are currently quoted at 9.6102, about 0.63% away from my target. I will need this retracement from the highs to continue a little bit longer in order to snag a position near the top.



fxsurprise8 avatar
fxsurprise8 30 Сент.

The EUR/SEK is slowly moving but in the wrong direction. Today we opened at 9.6159 and after a brief spike lower to 9.6038 the pair has rallied higher a bit.

We're now quoted at 9.6339, about 0.87% away from my forecast. The pressure from the resistance area close-by should help to keep a lid on prices. And what doesn't go up, has to come down eventually. At least that's the plan.

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fxsurprise8 3 Окт.

The slow rally in EUR/SEK continues. We opened the week at 9.6293 but quickly rallied from here to a high of 9.6436. We're currently quoted just slightly below the highs at 9.6408.

This price is now close to 1% away from my 9.5511 forecasted price. Prices are now deep inside the 9.61-9.71 resistance area. We can only hope for a sharp rejection here followed by a quick retracement of the gains.

But with only one half session remaining tomorrow, odds look bleak for a high prize placement this month.

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More of the Same in EUR/SEK

The EUR/SEK continues to trade locked in a relatively tight range. During May the total movement, low to high, was only 2.4 percent. The pair closed the month at 9.2706, barely 1 percent higher.
The long-term chart doesn't look any better for trend traders. Since the start of 2015 the EUR/SEK has been trading in a tight range between 9.0500 and 9.6800. Thus it seems logical to bet on more of the same for this pair. I'm forecasting 9.2737.
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fxsurprise8 avatar
fxsurprise8 1 Июль

The EUR/SEK is still trading range-bound between 9.0500 and 9.6800. But we are seeing some bids post-Brexit. Initially the pair got bought up to 9.59 on the panic but it's now down to 9.3860. This is still over 1% away from my forecast at 9.2737 so not enough for a top prize.

But there is still time and let's hope the post-Brexit Euro reversal continues here as well. Initially the single currency benefited from reversed carry trades but after the realization what Brexit means for the European Union we're seeing a lot of these safe-haven moves reverse.

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News day

Hello traders,
The day for the next NFP has come, but it is tomorrow.
Today it will be a day with a lot of other interesting news. After the two consecutive surprised interest rate cut of Swedish bank today most probably there will be no surprise -0.35. It will be a good trade opportunity but the timing is crucial because of the volatility and the huge spread in krona pairs. Direction is not clear yet
The next broadly expected event is the ECB interest rate decision but because of tomorrows NFP …
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megajorko avatar
megajorko 3 Сент.

megajorko avatar
megajorko 3 Сент.

This is called 400 pips in EUR/SEK for 5 minutes :) (400 pips EUR/SEK approximately equals 50 pips EUR/USD)

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