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Forex Strategy: Looking to Add to EUR/SEK Short Position

Forex Strategy: Looking to Add to EUR/SEK Short Position

Ilya Spivak, Head Strategist, APAC

I sold EURSEK at 8.7315 on December 19 expecting Risksbank to keep rates on hold while the ECB begins easing in 2013 as recession lingers while falling bond yields mark policy transmission normalization. Prices appear to have resumed their decline and I will look to add to the position at 8.6409. Near-term downside targets are at 8.5637 and 8.5054. The stop-loss is now at breakeven.

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