Eur/Sek Despite the recent setbacks, we retain a mildly constructive outlook and look for the latest setbacks to be well supported in the 8.75-80 area ahead of an eventual break and acceleration back above 9.00. Ultimately, only a sustained break below 8.75 would negate outlook.
Usd/SekDespite the recent setbacks, we retain a mildly constructive outlook and look for the latest setbacks to be well supported in the 6.50 area ahead of an eventual break and acceleration back above 6.90. Ultimately, only a sustained break below 6.50 would negate outlook.
Usd/Nok Despite the latest setbacks, we retain a mildly constructive outlook and look for the latest setbacks to be well supported in the 5.60 area ahead of an eventual break and acceleration back above 5.85. Ultimately, only a sustained break below 5.60 would negate outlook.
Eur/NokLooks to be finally attempting to establish some form of a base after being very well offered over the past several weeks. The latest break back above 7.49 triggered a double bottom which has already reached its 7.60 area objective. From here, look for additional gains towards 7.75 over the coming weeks. Ultimately, only back under 7.45 delays.
--- 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
