EURSEK - Selling on better macro data
Sweden could say "Thanks, we are doing fine, no risk of deflation" , based on just released CPI numbers.
After yesterday daily hammer, EURSEK turning down from range top again.
Daily: Price action should be considered as consolidation within a wider range, right now ard equilibrium level. The strategic short position is recommended only below 9,39 and 9,25 key levels, with further confirmation signals (DMI reversal, Chikou cross, Price break below Kumo)
4 Hrs: Price back below Kijun Sen, Senkou B and 100 WMA, DMI turning bearish with the heavy selling seen in last candle. Sell the spikes and/or get ready for size up after Price breaks 9,3950.
p.s.: as Sweden's economy really depends on EU economy, now we have a very good question: if Sweden is doing so well, is there really such a bad situation in Europe? Is there really a threat of deflation?
After yesterday daily hammer, EURSEK turning down from range top again.
Daily: Price action should be considered as consolidation within a wider range, right now ard equilibrium level. The strategic short position is recommended only below 9,39 and 9,25 key levels, with further confirmation signals (DMI reversal, Chikou cross, Price break below Kumo)
4 Hrs: Price back below Kijun Sen, Senkou B and 100 WMA, DMI turning bearish with the heavy selling seen in last candle. Sell the spikes and/or get ready for size up after Price breaks 9,3950.
p.s.: as Sweden's economy really depends on EU economy, now we have a very good question: if Sweden is doing so well, is there really such a bad situation in Europe? Is there really a threat of deflation?
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