Recommendation for EUR/SEK: Buy
Buy Stop : Above 10.24Stop Loss : Below 9.96
Indicator | Value | Signal |
RSI | Neutral | |
MACD | Buy | |
MA(200) | Neutral | |
Fractals | Buy | |
Parabolic SAR | Buy | |
Bollinger Bands | Neutral |
Chart Analysis
On the daily timeframe, EURSEK: D1 broke upward the resistance line of the long-term downtrend and, at the same time, exited the short-term triangle. A number of technical analysis indicators formed signals for further growth. We do not rule out a bullish movement if EURSEK: D1 rises above its latest high: 10.24. This level can be used as an entry point. The initial risk limitation is possible below the Parabolic signal, the lower Bollinger band, the last lower fractal and the 3-year low: 9.96. After opening a pending order, we move the stop loss following the Bollinger and Parabolic signals to the next fractal low. Thus, we change the potential profit/loss ratio in our favor. After the transaction, the most risk-averse traders can switch to the four-hour chart and set a stop loss, moving it in the direction of the bias. If the price meets the stop loss (9.96) without activating the order (10.24), it is recommended to delete the order: the market sustains internal changes that have not been taken into account.