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
Mixed
GBP/USD
Bullish
USD/JPY
Mixed
Gold
Bullish
Oil - US Crude
Mixed
Bitcoin
Bearish
More View more
Real Time News
  • The $JPY market faces a clear disconnect between domestic economic data and monetary policy. What if that were to change? Get your market update from @DavidCottleFX here:https://t.co/4Gr8tLaHvj https://t.co/0eXMv5CTnd
  • #Forex Forecast via @DailyFX: US Dollar Technical Outlook on $DXY, $AUDUSD, $USDCAD, $USDJPY & $EURUSD Full Analysis ⬇️ https://www.dailyfx.com/forex/technical/article/fx_technical_weekly/2019/11/17/usd-price-us-dollar-chart-forecast-dxy-audusd-usdcad-usdjpy-eurusd.html
  • Further escalation in Hong Kong will likely bode poorly for risk appetite https://t.co/0NjUd3ahBu
  • How should you trade around event risks and what steps can you take to improve your trading psychology? Find out from @JoelKruger, a trading consultant and mentor. Only on Global Markets Decoded. Missed the episode? Read up here:https://t.co/JWIGJk4vKa https://t.co/WB39x4GP99
  • Poll - Does your personality match your #tradingstyle? Vote and find out from @WVenketas here: https://t.co/vREsUIWSJd https://t.co/Ft0ExAmMpq
  • #Dow Jones hits record high, however, central bank liquidity prompts volatility implosion. #FTSE 100 among underperformers with focus remaining on politics. Get your #equities market update from @JMcQueenFX here: https://t.co/EOFleGSeBp https://t.co/ecAyfSUeAM
  • RT @C_Barraud: 🇪🇺 #ECB’s Muller Says More Assets Could Join Stimulus List in Slump - Bloomberg https://t.co/roGEgu0VTQ
  • With increasing volatility in weather patterns, how might storms, hurricanes and floods rattle the supply chain for petroleum-based products and impact crude oil prices? Find out from @JStanleyFX here:https://t.co/O4dgBl47fq https://t.co/OQYqZAYt9S
  • Currency Strategist,@PaulRobinsonFX is a Swing trader. What is your #tradingstyle? Take the quiz and let us know: https://t.co/LPBOcS0Vtd https://t.co/WzRYeqRhUL
  • Despite what your #tradingstyle is, you should be keeping a trading journal. How can you start keeping a trading journal? Find out: https://t.co/0akgWbyJEw https://t.co/4ehMlN4zv1
Euro/Scandi Crosses Reamain Very Well Bid On Dips; Look to Buy

Euro/Scandi Crosses Reamain Very Well Bid On Dips; Look to Buy

2011-05-24 06:05:00
Joel Kruger, Technical Strategist
Share:

Eur/SekThe market recovery out from 8.70 continues and we look for a fresh higher low to now be in place at 8.80 ahead of the next upside extension towards the 9.30 area further up. Weekly studies are looking even more constructive potentially with the formation of a major base and the clear break back above the 9.00 handle has triggered the formation of an inverse head & shoulders base. Ultimately, only back below 8.80 would give reason for concern.

Usd/SekThe ability for the market to establish back above 6.35 suggests that some form of a material base could finally be in place and we could be on the verge of a trend shift. From here, look for a break back above 6.52 for additional confirmation, with setbacks now expected to be well supported above 6.20 on a daily close basis.

Usd/Nok The ability for the market to establish back above 5.52 suggests that some form of a material base could finally be in place and we could be on the verge of a trend shift. From here, look for a break back above 5.72 for additional confirmation, with setbacks now expected to be well supported above 5.40 on a daily close basis.

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 exposes 8.10 further up. Only a weekly close back below 7.70 ultimately negates recovery, while intraday setbacks should be well supported above 7.75 on a close basis.

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.