FxWirePro: Swedish Krona Gains Against Euro Ahead of Retail Sales Data

FxWirePro: Swedish Krona Gains Against Euro Ahead of Retail Sales Data

• EUR/SEK is currently trading around 9.152 levels. 
• It made intraday high at 9.1633 and low at 9.1495 levels. 
• Intraday bias remains bearish for the moment. 
• A daily close below 9.1437 will tests key supports at 9.1273 and 9.0846 marks. 
• Alternatively, reversal from key support test key resistances at 9.1743/ 9.1907/ 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. 
• Today Sweden will release retail sales data at 0730 GMT. Market anticipates a rise of 0.5% m/m vs -0.2% m/m previous release.
  

We prefer to take short position in EUR/SEK at 9.1520, stop loss 9.1633 and target 9.1437/ 9.1273 marks.

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