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USD/SEK and USD/NOK Put in Impressive Bullish Reversal Days

USD/SEK and USD/NOK Put in Impressive Bullish Reversal Days

Joel Kruger, Technical Strategist

Eur/Sek Despite the recent setbacks, we retain a mildly constructive outlook and look for the latest setbacks to be well supported once again ahead of 8.70 in favor of an eventual break and acceleration back above 9.00. Ultimately, only a sustained break below 8.70 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. Tuesday’s bullish reversal day confirms.

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. Tuesday’s bullish reversal day confirms.

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

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