We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Mixed
Gold
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Bullish
Bitcoin
Bearish
More View more
Real Time News
  • Nice thread from @chigrl summarizing the November prelim IHS Markit #PMI reports for November released today $AUD $JPY $EUR $GBP $USD https://t.co/jI2tvJyrO4
  • 🇺🇸 USD U. of Mich. Sentiment (NOV F), Actual: 96.8 Expected: 95.7 Previous: 95.7 https://www.dailyfx.com/economic-calendar#2019-11-22
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.68%, while traders in France 40 are at opposite extremes with 80.07%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/18Gcj2mgVl
  • German Finance Minister Scholz says no expectations for EU deficit rules to change $EUR
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Gold: 0.14% Silver: -0.04% Oil - US Crude: -0.48% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/coQYpif2bb
  • $USD https://t.co/DkP4VUiBVK
  • RT @Reuters: China's Xi says he wants to work out initial trade deal with U.S. https://t.co/jNihU0lJOH https://t.co/a7zmxAGKOk
  • 🇺🇸 USD Markit US Composite PMI (NOV P), Actual: 51.9 Expected: N/A Previous: 50.9 https://www.dailyfx.com/economic-calendar#2019-11-22
  • Any pull-back in $EURGBP will initially target Monday’s multi-month low at 0.85220 ahead of May’s low at 0.84907 and the late-March low print at 0.84725. Get your market update from @nickcawley1 here: https://t.co/eVFzZ5rzHU https://t.co/BxPRFSn5wl
  • 🇺🇸 USD Markit US Manufacturing PMI (NOV P), Actual: 52.2 Expected: 51.4 Previous: 51.3 https://www.dailyfx.com/economic-calendar#2019-11-22
USD/SEK Breaks to Fresh Yearly Low; Exposes Deeper Drop

USD/SEK Breaks to Fresh Yearly Low; Exposes Deeper Drop

2011-03-21 06:23:00
Joel Kruger, Technical Strategist
Share:

Eur/SekThe latest break and close back above 8.85 is a significant short-term development as it likely signals a base for now. This market has been very well offered of late and any upside moves beyond 9.00 should be welcome as a healthy corrective bounce. Current intraday setbacks should now be well supported ahead of 8.80. A close above 9.00 could now open more upside towards 9.40 over the medium term. .

Eur/NokWe are finally starting to see the formation of a potential base in the cross after the market has once again stalling out by the 7.70 handle. The latest break back above 7.80 confirms and towards 8.00 confirms. Only a weekly close back below 7.70 ultimately negates recovery, while intraday setbacks should be well supported ahead of 7.80. Above 8.00 accelerates further towards 8.20.

Usd/SekRemains under some intense pressure with the market trading at fresh yearly and multi-week lows by 6.25. However, with daily studies looking stretched, there is the risk for some corrective upside ahead. A bullish reversal week would definitely help the USD’s cause here and we would need to see a break above 6.55 to ultimately encourage these reversal prospects. A weekly close below 6.25 would be discouraging for reversal prospects and expose 6.00 further down.

Usd/Nok The market finally seems to have found some decent support by the recently established fresh multi-month lows at 5.50, and could be in the process of carving out a short-term bottom at a minimum. Look for the 5.50 area to once again offer itself as formidable support with a break and close back above 5.73 to confirm basing outlook and accelerate gains.

Written by Joel Kruger, Technical Currency Strategist for DailyFX.com

If you wish to receive Joel’s reports in a more timely fashion, email jskruger@dailyfx.com and you will be added to the distribution list.

If you wish to discuss this or any other topic feel free to visit our Forum Page.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.