Long Term
The pair USD/SEK is ranging on all major timeframes. We have a Long Term sideways movement since the low of April 2011 with top at June 2012 high.
Medium Term
Also ranging. We are in a sideways movement since the low of February 2013 with top at July 2013
Short term
Since November 2013 high, we can see a downtrenf on this timeframe. The current low of this trend is at the support zone 6,40.
Overnight price bounced, now is trying to breakout the descending TL, maybe this trend is over. I took a long position, will see if price goes at least to the previous swing high of this trend at 6,60-6.62 area.
The pair USD/SEK is ranging on all major timeframes. We have a Long Term sideways movement since the low of April 2011 with top at June 2012 high.
Medium Term
Also ranging. We are in a sideways movement since the low of February 2013 with top at July 2013
Short term
Since November 2013 high, we can see a downtrenf on this timeframe. The current low of this trend is at the support zone 6,40.
Overnight price bounced, now is trying to breakout the descending TL, maybe this trend is over. I took a long position, will see if price goes at least to the previous swing high of this trend at 6,60-6.62 area.