Forex Analysis Report 2-16-19…More Upside On The EUR/SEK – Part 2

I talked about a EUR/SEK set-up to go long back in mid-February.

Forex Analysis Report 2-16-19…More Upside On The EUR/SEK

Based on the monthly chart, I thought there was more upside because the EUR/SEK has been in a 6-week rally since late-December lows in the 10.1200 region.

So the set-up was the following:

The Swedish krona depreciates further vs. its European peer on Wednesday, lifting EUR/SEK to fresh 2019 peaks in the vicinity of the 10.6800 handle.The increasing selling mood in the Swedish currency remains the name of the game around the cross for the time being, which has now advanced to the area

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