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Daniel Stasziek

SEKI

How things get messed up, we had a nice long USD bias until something went upside down, and now we have retracement which can go into sideways, complete turn, or just mess things up with long retracement and then again long bias.

Anyway this is more closer look on USDSEK, because there are enough looks on EURUSD

now we have what looks like giant bull flag on weekly, which can last for a long time, anyway here is a pic

we can see that we are near of the top line, breaking that would singal longs, but this here looks like situation for shorting the thing

closer look

looking at tops and bottoms (triangles) we have higher high and lower low - means sideways with tendancy to go lower since last break was lower

even closer look will reveal that current trend on TF30 min is up but currently trapped inside red rectangle (shown below)

in light of current USD move and that we are on top of weekly giant bull flag shorts are preffered

so breaking that rectangle to down side should be safe short with targets 9.04 and then 9.0

just my train of thought 

have a nice next week!

 

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Viktor
Senior Forex Market Analyst
Contributor at Forexmospherians.com
Currency Pairs USD, EURO, GBP, AUD, CAD, NZD, JPY

Comments

  • Awesome Forex charts and techical analysis Viktor, cheers for sharing your view on USDSEK, very much appreciated. 113.gif

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