USD/SEK: Short Review and Forecast

The USD has good perspectives for further growth. The deals to BUY seem the most effective in the medium term.

Technical Analysis
18 июл. 2018 г.
USD/SEK: Short Review and Forecast

The rates continue within the upward trend. It has recovered to the level of the beginning of 2017, in a high volatility mode. Over the past 15 months the value of USD has changed from 8.37 to 9.02 SEK. At the moment we can see a slowdown in the economic growth of the EU amid a soft monetary policy. The slowdown in economic growth in the EU may fully affect the Swedish economy, which will lead to a weakening of the Swedish Krona. The USD, on the contrary, is strengthened due to the impressive economic indicators and tight monetary policy of the Federal Reserve.

This week, the USD has received support due to good data on the U.S. economy. Yesterday the market received the latest data on industrial production output in June, which increased by 0.6% and matches with investors' forecasts. The volume of purchases of long-term securities grew at a much higher rate than expected - by 45.6 billion dollars. In addition, the USD received support amid statements by Jerome Powell. He said that he is pleased with the current situation in the economy. In his opinion, this allows the FED to further increase the rate, in accordance with the approved plan.

Today data on the real estate market in the United States is expected. Investors believe that in June the number of building permits issued increased. Also, the report is expected to restore the volume of the building of new houses. Tomorrow investors will be focused on the Philadelphia manufacturing index. At the same time, given the situation in the US economy and the latest reports, it is highly likely that the economic statistics will continue to please investors with their indicators, and in the absence of news from Sweden, will lead to further growth of the USD.

The stochastic oscillator signaled the efficiency of the deals against the trend, waiting for a price correction. However, in the current situation, in the medium term, the most optimal would be the deals to BUY. In the medium term we can expect the continuation of the current trend with a high volatility.

SuperForex
GBP/USD Technical Analysis

Technical Analysis

GBP/USD Technical Analysis

The pair is about to turn.

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EUR/USD Technical Analysis & Daily Chart

Technical Analysis

EUR/USD Technical Analysis & Daily Chart

The pair is in a tough spot today, but we might be able to open buy positions.

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EUR/SGD: Review and Forecast

Technical Analysis

EUR/SGD: Review and Forecast

The uptrend is losing its intensity. However, the deals to BUY seem the most effective.

SuperForex
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