Currency pair US Dollar to Swedish Krona USD/SEK continues to move as part of the correction and the formation of the “Triangle” model, a breakdown of which will indicate a strong growth of the pair. At the time of publication of the forecast, the exchange rate of the US Dollar to the Swedish Krona is 11.13. Moving averages indicate the presence of a short-term bullish trend for the pair. Prices are again testing the area between the signal lines, which indicates pressure from buyers of the pair. At the moment, we should expect an attempt to develop a correction and a test of the support level near the 11.00 area, after which we should consider continued growth with a target above the level of 12.05.
Swedish Krona Forecast October 26, 2022
In favor of the growth of Swedish krona quotes, a test of the support line on the relative strength index (RSI) will come out. The second signal will be a rebound from the lower border of the “Triangle” model. Cancellation of the USD/SEK growth option on Forex will be a fall and a breakdown of the 10.55 area. This will indicate a breakdown of the lower model and a continued fall in quotes to the area below the level of 9.25. It is worth waiting for confirmation of the growth of the pair with the breakdown of the resistance area and the closing of the quotes of the USD/SEK pair above the level of 11.65. Such an event will indicate a breakdown of the upper curtain of the “Triangle” model with the targets of working out far above.
Swedish Krona Forecast October 26, 2022 suggests an attempt to test the support area near the level of 11.00. Then, continued growth to the area above the level of 12.05. An additional signal in favor of the growth of the pair on Forex will be a test of the trend line on the relative strength index (RSI). Cancellation of the option of lifting the US Dollar against the Swedish krona will be a fall and a breakdown of the level of 10.55. In this case, it is worth considering the continuation of the fall to the level of 9.25.
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