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.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
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
Oil - US Crude
Bearish
Wall Street
Bullish
Gold
Bearish
GBP/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
USD/JPY
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
More View more
Real Time News
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: 0.14% 🇦🇺AUD: 0.13% 🇪🇺EUR: 0.12% 🇨🇦CAD: -0.14% 🇳🇿NZD: -0.26% 🇬🇧GBP: -0.34% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/KPHaMJYWSR
  • Coming up in half an hour. Do join me if you're free... https://t.co/tWtUtwwcwl
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.35% US 500: 0.34% FTSE 100: -0.51% Germany 30: -1.56% France 40: -1.59% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/xXvjSjlt9p
  • Last week, USD/CAD reversed from an over two-week low and pointed higher. Will today’s US inflation numbers (13:30UK) boost the pair’s rally? #USD/CAD, #USinflation, #USD https://t.co/c0BVB3drY6
  • Join @MartinSEssex 's #webinar at 6:30 AM ET/10:30 AM GMT to learn more about trading #sentiment Register here: https://t.co/XUUPRefAXX https://t.co/JDikSRdPyY
  • There are many different types of forex orders, which traders use to manage their trades. While these may vary between different brokers, there tends to be several basic FX order types all brokers accept. Learn about different FX order types here: https://t.co/lIJdiz4xSz https://t.co/H8mFeHAyDS
  • 💶 Industrial Production YoY (MAY) Actual: -20.9% Expected: -20% Previous: -28.7% https://www.dailyfx.com/economic-calendar#2020-07-14
  • 💶 ZEW Economic Sentiment Index (JUL) Actual: 59.6 Previous: 58.6 https://www.dailyfx.com/economic-calendar#2020-07-14
  • 🇩🇪 ZEW Current Conditions (JUL) Actual: -80.9 Expected: -65 Previous: -83.1 https://www.dailyfx.com/economic-calendar#2020-07-14
  • 🇩🇪 ZEW Economic Sentiment Index (JUL) Actual: 59.3 Expected: 60 Previous: 63.4 https://www.dailyfx.com/economic-calendar#2020-07-14
USD/SEK Looking to Carve Next Base; Fresh Upside Ahead

USD/SEK Looking to Carve Next Base; Fresh Upside Ahead

2012-02-03 06:30:00
Joel Kruger, Technical Strategist
Share:

Eur/SekThe market remains under some intense pressure, with the latest setbacks threatening a return to the key lows from early 2011 by 8.70. However, daily studies are now tracking in oversold territory and any additional setbacks should prove to be very well supported once again towards 8.70. Ultimately, only a close back below 8.70 would give reason for concern, while dips towards the figure are viewed as formidable buy opportunities.

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. Recent setbacks have been well supported by previous resistance at 6.30 to further confirm constructive outlook and expose a retest of the critical November 2010 highs by 7.07 further up. Above 7.07 open next upside extension towards 7.50 further up, while any interday declines should find renewed bids ahead of 6.50.

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 beyond 6.00. Recent setbacks have been well supported by previous resistance at 5.40 to further confirm constructive outlook and expose a sustained break of the 6.00 handle. Next key resistance at 6.25 now in focus, while setbacks should be well supported ahead of 5.70.

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 7.60 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.