{"id":11142,"date":"2010-07-16T08:59:37","date_gmt":"2010-07-16T12:59:37","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=11142"},"modified":"2010-07-16T08:59:37","modified_gmt":"2010-07-16T12:59:37","slug":"after-long-bearish-turn-usdsek-poised-for-upward-correction","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/07\/16\/after-long-bearish-turn-usdsek-poised-for-upward-correction\/","title":{"rendered":"After Long Bearish Turn, USD\/SEK Poised for Upward Correction"},"content":{"rendered":"<p><strong>By Dan Eduard<\/strong> &#8211; Over the last month and a half, USD\/SEK has been stuck in a prolonged  downward trend.  The U.S. dollar has been bearish across the board, but  against the SEK, it has seen particularly heavy losses.  Since June  7th, the pair has tumbled an astounding 8000 pips.  As we will see,  technical data will indicate that an upward correction is finally set to  take place.<\/p>\n<p>We will be looking at the daily chart  for USD\/SEK, provided by ForexYard.  The technical indicators we will  analyze are the Bollinger Bands, Stochastic Slow and Relative Strength  Index (RSI).<\/p>\n<p>1.  The pair is currently trading along the lower band, indicating  that an upward correction is due to take place.  Furthermore, the  Bollinger Bands are beginning to widen, spreading further apart.  This  typically means that a price shift is likely to take place.<\/p>\n<p>2.  A cross in the Stochastic Slow is currently forming below the  lower support line.  This is typically seen as a clear indicator that a  bullish correction is imminent.<\/p>\n<p>3.  Looking at the RSI, we can see that it is well below the lower  support line.  Traders can take this as a clear sign that upward  movement is likely to take place, further supporting our original  theory.<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/07\/tech-16.7.bmp\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/07\/tech-16.7.bmp\" alt=\"\" width=\"568\" height=\"581\" \/><\/a><\/p>\n<p><strong><em>Forex Market Analysis<\/em> provided by <a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\">Forex                            Yard.<\/a><\/strong><\/p>\n<p>\u00a9 2006 by FxYard Ltd<\/p>\n<p>Disclaimer: Trading Foreign Exchange carries a high level of risk and                            may not be suitable for all investors. There   is  a              possibility      that     you   could sustain a loss   of  all   of    your         investment and      therefore  you       should   not    invest   money  that   you      cannot afford to        lose. You    should    be      aware of   all   the    risks     associated with     Foreign      Exchange    trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Dan Eduard &#8211; Over the last month and a half, USD\/SEK has been stuck in a prolonged downward trend. The U.S. dollar has been bearish across the board, but against the SEK, it has seen particularly heavy losses. Since June 7th, the pair has tumbled an astounding 8000 pips. As we will see, technical &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/07\/16\/after-long-bearish-turn-usdsek-poised-for-upward-correction\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;After Long Bearish Turn, USD\/SEK Poised for Upward Correction&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-11142","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/11142","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=11142"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/11142\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=11142"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=11142"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=11142"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}