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
Bearish
GBP/USD
Mixed
USD/JPY
Bearish
Gold
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
Oil - US Crude
Mixed
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
Bitcoin
Bearish
More View more
Real Time News
  • Going live for this week's equity webinar, outlining key levels on the $SPX and $DAX as the trade war landscape shifts As a bonus, we'll look at the interesting technical position the $RUT is in Join here - https://www.dailyfx.com/webinars/782324475
  • The S&P 500 turns positive for the day after opening down 0.25% from it's previous close $SPX https://t.co/b7FCwxMBpa
  • Forex Update: As of 15:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 1.07% 🇨🇭CHF: 0.34% 🇯🇵JPY: 0.27% 🇬🇧GBP: -0.06% 🇨🇦CAD: -0.10% 🇦🇺AUD: -0.15% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/NXxc6L5oDb
  • Copper Braces For More Losses - (HG) Price Weekly Forecast MOre details in the link below: https://www.dailyfx.com/forex/technical/article/special_report/2019/11/13/Copper-Braces-For-More-Losses-HG-Price-Weekly-Forecast-MK.html/?CHID=9&QPID=917714 https://t.co/ddcFr9QDx0
  • RT @LiveSquawk: WATCH: Fed’s Powell Testifies To The Joint Economic Committee On ‘Outlook For The US Economy’ Approx. 16:00 GMT https://t.…
  • Indices Update: As of 15:00, these are your best and worst performers based on the London trading schedule: Wall Street: -0.02% US 500: -0.05% France 40: -0.32% Germany 30: -0.52% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/fDQj9PIILG
  • Heads Up:🇺🇸 USD Powell Addresses Joint Economic Committee Of Congress due at 16:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2019-11-13
  • Patience is sometimes rewarded. $USDMXN was my favorite long-dollar scenario, and yesterday's break of the 200-day moving average has propelled the biggest 2-day rally since Aug 5th https://t.co/QPTEuxhn8o
  • The S&P 500 ($ES_F) sticking to its range today has consequently broke support in the rising channel support back to the Oct 3 swing low. I'd call this a 'break of necessity', not intent...not yet https://t.co/VByMOdxKuC
  • Update on #Cryptocurrencies #BITCOIN -0.29% #BITCOINCASH -1.08% #ETHEREUM +0.40% #RIPPLE +0.26% #LITECOIN -1.15%
USD/SEK and USD/NOK Seen Higher Over Coming Days and Weeks

USD/SEK and USD/NOK Seen Higher Over Coming Days and Weeks

2011-05-25 06:24:00
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.