FxWirePro: Euro Strengthens Against Swedish Krona, Intraday Bias Remains Bullish

FxWirePro: Euro Strengthens Against Swedish Krona, Intraday Bias Remains Bullish

16 May 2016, 10:09
Roberto Jacobs
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FxWirePro: Euro Strengthens Against Swedish Krona, Intraday Bias Remains Bullish

  • EUR/SEK is currently trading around 9.3305 levels. 
  • It made intraday high at 9.3316 and low at 9.3045 levels. 
  • Intraday bias remains bullish for the moment. 
  • A sustained break above 9.33 tests key resistances at 9.3495 (20D, 30D and 55D EMA cross over), 9.4682 (high of February 08, 2016) and 9.4942 marks. 
  • Alternatively, a daily close below 9.2920 will tests key supports at 9.2612, 9.2301 (January 07, 2016 low), 9.2050 (March 16, 2016), 9.1919 and 9.1416 marks.

We prefer to take long position in EUR/SEK around 9.3200, stop loss 9.2920 and target 9.3495.

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