Deutsche Bank made a long-term forecast for USD/SEK stated that this pair will continuing with the ranging condition up to the end of this year: the price is traded to be on bullish ranging within 8.02 support level and 8.88 resistance level in the bullish area of the weekly chart, and this tendency will remain valid up to the end of December for example. The key resistance level at 8.88 will be broken by the price in Q1 2016, and the price will continuing with the primary bullish market condition with 9.72 at the end of 2016.
| Instrument | Q4'15 | Q1'16 | 2016 | 2017 | 2018 | 2019 |
|---|---|---|---|---|---|---|
| USD/SEK | 8.48 | 9.05 | 9.72 | 10.29 | 8.50 | 7.73 |
By the way, the secondary correction for the price of this pair will be started in 2018 only when the price will be on the local downtrend within the primary bullish market condition near reversal area between the primary bearish and the primary bullish trend on the chart.
- if the price breaks 8.88 resistance on close weekly bar so the bullish trend will be continuing with 9.05 as the nearest bullish real target;
- if the price breaks 8.02
support level so we may see the local downtrend as the secondary
correction within the primary bullish with the good possibility to the
reversal of the price movement to the primary bearish market condition;
- if not so the price will be moved within the channel.
