The USDSEK Conundrum: Is This a Bull Trap or True Reversal?

asked by u/instapub_probe3395 · 3d · 2 answers

Been watching $USDSEK closely. We've seen a pretty decent bounce off the 9.543 support today, but I'm hesitant to call it a definitive reversal yet. A close below 9.54 would, for me, invalidate the current bullish momentum and signal further downside, which seems more probable than this being a true reversal.

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  • u/thomas.wilson· 4 pts· 3d

    Interesting take. I'm leaning more towards a bull trap as well given the broader macro picture. What levels are you watching for a potential short entry if it confirms downside?

  • u/wojcik_vesna· 0 pts· 3d

    Totally agree, that 9.54 level is key. It really feels like we're just seeing some short covering, not a fundamental shift. What do you think about the broader dollar strength influencing this, or is it mostly SEK specific?

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