Sweden's crown could make a comeback this week
Repeats with no chnages
Nov 7 (Reuters) -A near six-percent depreciation in the Swedish crown since late September and fundamentally a negative backdrop will continue to sour sentiment but technically there is scope for EUR/SEK to come away from a developing top between 11.6500 and 11.6510.
As the Riksbank shifts its attention away from inflation and focuses on the fragile Swedish economy a 50-basis interest rate cut is on the cards for today. The easing cycle has taken its toll on the crown but a half-point cut this week is likely to have been fully priced into EUR/SEK.
Daily price action has not been kind to the SEK with EUR/SEK posting six consecutive bull closes into a high of 11.6510 on Nov. 1. However, daily technical studies suggest the crown is oversold and screaming out for an adjustment. A relative strength reading clear above the 70.00 upper band and slow stochastic looking stretched in the mid-90s argue for a EUR/SEK pullback.
A Dec. 2 11.4005-11.4075 Ichimoku cloud twist adds to the correction risk. Cloud twists can appear to attract.
In terms of pullback targets Fibonacci retracement levels taken off the 11.2450-11.6510 Sept. 27-Nov. 1 rally are at 11.5552, 11.4959 and 11.4480.
For more click on FXBUZ
EUR/SEK daily candle chart: https://tmsnrt.rs/3YTR304
(Peter Stoneham is a Reuters market analyst. The views expressed are his own)
</body></html>
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
