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