EUR/SEK: Race higher could persist gradually towards 11.10 – SocGen
EUR/SEK broke out above a multi-month trend line resulting in a move towards 11.10 in October. Economists at Société Générale expect the pair to advance nicely towards 11.10, then 11.26.
Upward momentum prevails
“Currently a phase of pullback is underway however the pair has so far successfully defended that support line at 10.68/10.63.”
“Daily MACD has entered positive territory denoting prevalence of upward momentum.”
“Holding above 10.68/10.63, the up move could persist gradually towards 11.10 and projections of 11.26.”
See – EUR/SEK: Krona to weaken over the coming quarters – Danske Bank
Reprinted from FXStreet_id,the copyright all reserved by the original author.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.