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FxWirePro: Swedish krona falls gradually against euro, short term bias remains bullish

Thursday, May 18, 2017 8:39 AM UTC

EUR/SEK is currently trading around 9.7667 levels.
It made intraday high at 9.7675 and low at 9.7293 levels.
Intraday bias remains bullish till the time pair holds key support at 9.72 levels.
A sustained close above 9.7428 tests key resistances 9.7834, 9.7940 and 9.8295 marks respectively.
Alternatively, a daily close below 9.7428 will tests key supports at 9.7221, 9.7006, 9.6774 and 9.6543 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.

We prefer to take long position in EUR/SEK around 9.7580, stop loss 9.72 and target of 9.8295.

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FxWirePro: Swedish krona falls gradually against euro, short term bias remains bullish

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