FxWirePro: Go Short on EUR/SEK Around 9.1700 With Stop Loss 9.1760 and Target of 9.1435

FxWirePro: Go Short on EUR/SEK Around 9.1700 With Stop Loss 9.1760 and Target of 9.1435

• EUR/SEK is currently trading around 9.1690 levels. 
• It made intraday high at 9.1750 and low at 9.1422 levels. 
• Intraday bias remains bearish for the moment. 
• A daily close below 9.1750 will tests key supports at 9.1437 marks. 
• Alternatively, current upward trend test key resistances at 9.1880/9.2050 marks. 
• Important to note here that 20D, 30D and 55D EMA heads down in daily chart and confirms the bearish trend. Current upward trend is short term correction only. 
• Swedish march PPI -3.7 pct yr/yr and +0.8 pct m/m.
  

We prefer to take short position in EUR/SEK at 9.17, stop loss 9.1760 and target 9.1435 marks.

The material has been provided by InstaForex Company - www.instaforex.com