13 Feb 2015
USD/SEK to move higher towards 9.10 – SG
FXStreet (Barcelona) - According to Societe Generale, USD/SEK uptrend might continue, further expecting the pair to target 9.10 in 1-3months.
Key Quotes
“USD/SEK confirmed a trend reversal last year as it gave a break above an inverted head and shoulder and has now achieved the projected target of the pattern.”
“The pair has now crossed above a multiyear descending trend line resistance (8.15) and is testing an intermediate resistance at 8.55, the 76.4% retracement of 2009-2011 down move.”
“With monthly RSI breaking above a graphical ceiling, the uptrend appears to continue and the pair should eventually head higher towards 9.10.”
Key Quotes
“USD/SEK confirmed a trend reversal last year as it gave a break above an inverted head and shoulder and has now achieved the projected target of the pattern.”
“The pair has now crossed above a multiyear descending trend line resistance (8.15) and is testing an intermediate resistance at 8.55, the 76.4% retracement of 2009-2011 down move.”
“With monthly RSI breaking above a graphical ceiling, the uptrend appears to continue and the pair should eventually head higher towards 9.10.”