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EURSEK holds support through ECB

Jignesh Przesłąno 10 Lis  w #Trader's blog #Eursek
The EURSEK recently broke through a major daily trendline (in Oct) but managed to pull back above.
Just ahead of the ECB Press conference last week, the pair was at support. Knowing the press conference was likely to be bearish, and this pair looking bullish, I was interested to see the reaction.
The 4 hour EURSEK Chart above shows the press conference caused a spike lower, which was quickly bough back up to support the pair above the daily trendline. This gives the pair stronger conviction to t…
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EURSEK fakes lower before resuming uptrend

Jignesh Przesłano 31 Paź jako Analiza EUR/SEK, Cel: 9.4683, Data: 1 z Grudzień, 12:00 GMT  w #Technical analysis #Fundamentals #Elliott Wave #Wave Count #Up Trend #EUR/SEK #Eursek #Correction Complete
EURSEK in my previous analysis looked bearish as it broke through a long term daily Trendline.
In the past month it has managed to trade through the level making the wave count complete
Levels
9.0822 - Previous low, Daily support & Bullish invalidation level
9.3507 - Weekly Resistance area
9.4683 - Weekly Resistance and Equal legs target
9.5600 - Weekly Resistance & Fib confluence
The first chart shows a completed ABC structure to the downside. The daily resistance level has cause a bit of sell …
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4 Komentarze
Jignesh avatar
Jignesh 5 Lis

The pair has completed one more swing lower to test the 9.20 area.  There is a  good fib confluence in this area, as well as a S/R level, as well as the previously broken Daily Trendline.  If this area fails, the last line in the sand for the pair is 9.14.  Major risk event for the pair in the next 24 hours with the ECB press conference on the docket.

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Jignesh 10 Lis

The ECB Press conference was a concern for the bullish momentum, but as per the chart above, you can see that it merely caused a spike down.  Meaning the bulls stepped in quickly to buy at lower prices, to bring it back to intern support. 
As per the chart, while remaining above the blue box, the pair still carries good upside potential.  A break would signal the next support at 9.14

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Jignesh 17 Lis

EURSEK slowly continues higher with very little momentum.  The upside looks promising as it remains above support, however evidence of buying is not necessarily present.  Will require some form of a catalyst most likely through NOK or SEK to gain momentum

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Jignesh 25 Lis

The pair continues to grind higher against the daily trendline.  The EUR weakness seen on the back of a statement from Draghi had a minor impact on this pair, however it's struggling to gain momentum

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EURSEK Bearish against it's Daily Trendline

Jignesh Uaktualniono 12 Paź  w #Trader's blog #Eursek
The EURSEK looks like it's doing a zigzag correction against the trend.
So far it has done one leg down to complete an A wave. The first leg of the C wave has already broken through a long term daily trendline as indicated by the chart below.
The next chart shows the first major leg B wave rejected off the 50% retracement in the form of a Flat Structure and now we see a bearish candle against the 50% retracement of the next leg down to possibly complete a B wave of a smaller degree.
This setup h…
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iiivb avatar
iiivb 14 Paź

nice!

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EURSEK Expected lower after breaking through Daily Trendline

Jignesh Przesłano 30 Wrz jako Analiza EUR/SEK, Cel: 8.9286, Data: 3 z Listopad, 12:00 GMT  w #Technical analysis #Ecb #Trendline #EUR/SEK #Eursek #Monthly Resistance #Pull Back

Overview
The EURSEK is in a clear uptrend on the daily chart.
On the daily chart, the pair has just broken through it's long term trendline.
The ECB has been implementing monetary policy that is bearish for the EUR, although the effects have not been harsh on this pair as it has been on others, we may see the effects clearer this month as the pair struggles at Monthly resistance
Levels
9.1830 - Daily Spike high Sept 30 (Trendline break Candle / Invalidation)
9.0730 - Daily 200 Moving Average
…
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Jignesh 2 Paź

Thank you Stix, to you as well

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Jignesh 6 Paź

The pair has mostly been consolidating sideways last week after a statement from the ECB that was not as hawkish as the market anticipated.  Will be monitoring the price here to see which way it breaks from consolidation.

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Jignesh 9 Paź

After faking to the downside, the pair has been bid up to retest the daily trendline.  So far the candlestick on the 4 hour chart confirm a reversal. 

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Jignesh 13 Paź

The daily chart has posted a bearish engulfing candle against the trendline.  Expecting a minor retracement before the downtrend starts gaining momentum.  9.1634 is the key resistance level for pressure to remain to the downside.

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Jignesh 16 Paź

SEK has been bearish on speculation of a further rate cut after a lower than expected inflation number drove the pair higher in a swift move to retake the trendline.  From a fundamental position, the pair does not have a bearish outlook.  As well the technical setup is considered invalid at this point as the price holds above the trendline

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Trade Summary for the week

Jignesh Przesłąno 15 Sie  w #Trader's blog #Eurusd #Usdcad #Usdchf #Eursek
If you've been reading my blog, you'll know that I've been bullish EUR.
It seems that EURUSD is in some kind of a triangle, and although I expected the move up today, and am expecting it to break out of the triangle, I've once again had to close my positions to avoid the weekend cut off.
The thing about triangles I have found, is that they can be extremely frustrating to trade, unless you can get ahead of them. On my real account, I got some excellent entries and essentially was holding 3 positi…
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Bimlesh avatar
Bimlesh 15 Sie

lots to learn from you :)

peachynicnic avatar
peachynicnic 15 Sie

well done :)

Olga18375 avatar
Olga18375 15 Sie

yes, Bimlesh))

Jignesh avatar
Jignesh 15 Sie

Might be too soon to say that, I was calling for a move to around 1.3515

VikaChechenkova avatar
VikaChechenkova 15 Sie

I agree with you)

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The case for a bullish EURO

Jignesh Przesłąno 14 Sie  w #Trader's blog #Eurusd #Euraud #Usdchf #Eurnzd #Eursek
After the big drop in GBP today, I had to re evaluate my long in EURUSD. But after looking at some of the cross rates my conviction remains bullish on the EUR.
There is no doubt that the momentum remains to the downside. And of course the better trade is shorting from higher levels. But here are the reasons I remain on the long side
  • EURAUD - has completed the Head and Shoulder's pattern on the daily chart
…
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2 Komentarze
Daytrader21 avatar
Daytrader21 14 Sie

You just gave me an idea and i'm going to overview the US Dollar index and see where we stand and the influence on EUR/USD:)

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Jignesh 15 Sie

Good to hear, hope you got a good trade out of it.

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