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The EURSEK recently broke through a major daily trendline (in Oct) but managed to pull back above.
Just ahead of the ECB Press conference last week, the pair was at support. Knowing the press conference was likely to be bearish, and this pair looking bullish, I was interested to see the reaction.
The 4 hour EURSEK Chart above shows the press conference caused a spike lower, which was quickly bough back up to support the pair above the daily trendline. This gives the pair stronger conviction to the upside as the SEK fundamentals have not shown a shift as of yet.
Just ahead of the ECB Press conference last week, the pair was at support. Knowing the press conference was likely to be bearish, and this pair looking bullish, I was interested to see the reaction.
The 4 hour EURSEK Chart above shows the press conference caused a spike lower, which was quickly bough back up to support the pair above the daily trendline. This gives the pair stronger conviction to the upside as the SEK fundamentals have not shown a shift as of yet.
