Bearish candles on USDSEK price are longer stronger than the bullish ones, driving the price line down to the support zone located around 10.29000. The zone is expected to contain large amount of buy orders; and therefore, is anticipated to pump the price line once more. The red descending line on the chart represents the bearish trend line that has formed the current bearish phase. Traders should keep a close eye on the chart to hunt any piercing pattern, breaking above this line, there they can enter long positions, heading to the resistance zones mentioned below.
• There is a resistance level at 10.48000 followed by resistance at 10.60000 and 10.65480
• There is a support level at 10.35000. Below, there is 1.30300 and 10.273000.
Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.
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