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FxWirePro: Swedish krona rises against euro after robust economic data sets

EUR/SEK is currently trading around 10.2320 levels. It made intraday high at 10.2512 and low at 10.2130 levels. Intraday bias remains slightly bearish till the time pair holds key resistance at 10.3035 mark. A daily clos…

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FxWirePro: Swedish krona rises against euro after robust economic data sets
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  • EUR/SEK is currently trading around 10.2320 levels.
     
  • It made intraday high at 10.2512 and low at 10.2130 levels.
     
  • Intraday bias remains slightly bearish till the time pair holds key resistance at 10.3035 mark.
     
  • A daily close above 10.2417 is required to take the parity higher towards key resistances at 10.3035, 10.3441, 10.3622 and 10.4214 marks respectively.
     
  • On the other side, a daily close below 10.2417 will take the parity down towards key supports at 10.1961, 10.1643, 10.1539 and 10.0945 marks respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
     
  • Sweden May 2018 new orders manufacturing yy increase to 1.4.
     
  • Sweden May 2018 services production yy increase to 4.4.
     
  • Sweden May 2018 industrial production valume yy increase to 3.
     
  • Sweden May 2018 industrial production valume mm increase to 2.

We prefer to take short position in EUR/SEK around 10.2350, stop loss 10.2512 and target 10.1350.

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