The Swedish Krona is poised to generate further traction in the near term, suggested Arne Rasmussen, Chief Analyst at Danske Bank. Key Quotes “EUR/SEK temporarily moved below 10.30 yesterday following strong NIER data and general EUR weakness”. “Today’s retail sales data is a potential market mover too. In hindsight and with a quick look at the chart, we see that September has been as one directionally bullish for the SEK as August was one-directionally bearish”. “Technically, a break of 10.30 opens for 10.24 (31 July low) and then 10.2280 200-day moving average. RSI suggests the cross is oversold”. “Swedish data recently have been mixed at best, but there is no doubt the hawkish tweak of the Riksbank rhetoric has changed the appetite toward the SEK. We target 10.20 in 3M. Meanwhile, government formation seems stuck at the moment. We wouldn’t be surprised to see a comeback of the political risk premium associated to the risk of a snap election”. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Gold struggles near six week lows, below $1185 level FX Street 5 years The Swedish Krona is poised to generate further traction in the near term, suggested Arne Rasmussen, Chief Analyst at Danske Bank. Key Quotes "EUR/SEK temporarily moved below 10.30 yesterday following strong NIER data and general EUR weakness". "Today's retail sales data is a potential market mover too. In hindsight and with a quick look at the chart, we see that September has been as one directionally bullish for the SEK as August was one-directionally bearish". "Technically, a break of 10.30 opens for 10.24 (31 July low) and then 10.2280 200-day moving average. RSI suggests the cross is oversold". "Swedish data… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
