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
Bearish
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
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
  • Russia's Novak does not state if Russia will support deeper oil output reductions #OOTT
  • 🇬🇧 GBP Retail Sales Ex Auto Fuel (YoY) (JAN), Actual: 1.2% Expected: 0.5% Previous: 0.7% https://www.dailyfx.com/economic-calendar#2020-02-20
  • The spread of #coronavirus promises a global economic hit at a time when the global economy is perhaps especially ill-equipped to deal with one. Growth-correlated assets are vulnerable. Get your market update from @DavidCottleFX here: https://t.co/0If0Jw7c2P https://t.co/KEWY1dET4m
  • Join @PaulRobinsonFX 's #webinar at 5:30 AM ET/10:30 AM GMT to learn about how you can become a better trader. Register here: https://t.co/WeWGKtdlyz https://t.co/eNA6uFXAXa
  • Heads Up:🇬🇧 GBP Retail Sales Ex Auto Fuel (YoY) (JAN) due at 09:30 GMT (15min), Actual: N/A Expected: 0.5% Previous: 0.7% https://www.dailyfx.com/economic-calendar#2020-02-20
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.20%, while traders in France 40 are at opposite extremes with 82.49%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/sCyvK3iy6d
  • The $USD gained versus SGD and IDR despite a “risk-on” tone in markets, boosted by strong declines in the Euro. What is the week ahead for USD/SGD, USD/IDR, USD/PHP and USD/MYR? Get your market update from @ddubrovskyFX here: https://t.co/3zCSbkEQ2c https://t.co/uFdMkQrZtZ
  • RT @SaraWalker_IG: Watch Anglo American at the open $AAL after higher #PALLADIUM prices boosted results, FY profit up 9% in line with estim…
  • Commodities Update: As of 08:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.05% Gold: -0.14% Silver: -0.79% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/Vctc4lToMc
  • Forex Update: As of 08:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: -0.00% 🇪🇺EUR: -0.14% 🇨🇦CAD: -0.18% 🇯🇵JPY: -0.33% 🇦🇺AUD: -0.58% 🇳🇿NZD: -0.63% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/oCl2xnI9yd
More Consolidation Expected Ahead of Fresh Bout of Scandi Weakness

More Consolidation Expected Ahead of Fresh Bout of Scandi Weakness

2011-10-11 06:03:00
Joel Kruger, Technical Strategist
Share:

Eur/SekThe market remains very well supported and we look for a continuation of gains and fresh upside extension back towards key multi-week resistance by 9.35 over the coming days. A sustained break above 9.35 should accelerate gains and mark a material bullish shift in the overall structure. Ultimately, only a weekly close below 9.00 would give reason for concern.

Usd/SekThe market looks to be in the process of a major structural shift, with the latest multi-day consolidation broken to confirm the formation of a higher low and next major upside extension beyond 7.00. For now, the 6.50 area is expected to support any pullbacks and buying dips towards the psychological barrier is the preferred strategy. Ultimately, only a daily close back under 6.40 gives reason for concern.

Usd/Nok The market looks to be in the process of a major structural shift, with the latest multi-day consolidation broken to confirm the formation of a higher low and next major upside extension towards 6.00. For now, the 5.60 area is expected to support any pullbacks and buying dips towards the psychological barrier is the preferred strategy. Ultimately, only a daily close back under 5.45 gives reason for concern.

Eur/NokWe believe are finally starting to see the formation of a potential base in the cross following the latest sharp bounce out from some very solid support in the 7.50 area. From here, look for an acceleration of gains through the multi-week range highs by 7.95, with further acceleration expected on a break above 8.00. Only back below 7.70 concerns.

--- Written by Joel Kruger, Technical Currency Strategist

To contact Joel Kruger, email jskruger@dailyfx.com. Follow me on Twitter @JoelKruger

To be added to Joel Kruger’s distribution list, send an email with subject line “Distribution List” to jskruger@dailyfx.com

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

DISCLOSURES

News & Analysis at your fingertips.