EUR/SEK Signal- Feb. 19, 2013

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By: DailyForex.com

The EUR/SEK pair bounced back after its important pullback over the past few days, but remains in a very uncomfortable technical situation following the crossing of moving averages at 7 and 20 sessions and the materialization of the Shoulder-Head-Shoulder figure discussed in the previous analysis. In this context, investors will favor bearish trades with an interesting level at 8.511 (neck line of the figure S-H-S) in the event of a pullback.
Direction: Sell
Entry: 8.48
Stop-loss: 8.60
Take-Profit: 8.20

EURSEK Signal 21913

Maxime Parra has been trading since the age of 18, and he is now in charge of technical and fundamental analysis at BNRY.com and Tmarkets.com. Fascinated by the psychology of financial markets and technical analysis, he is also the head of the “Fédération Sud Finance” and is preparing for the Degree of the Chartered Financial Analyst (CFA) level 1 at the SKEMA Business School. Maxime favors trend following strategies by combining chartist analysis with the use of technical indicators.