EUR/SEK may rise 588 - 848 pips

Our pivot point is at 11.3250.

Our preference

The upside prevails as long as 11.3250 is support.

Alternative scenario

Below 11.3250, expect 11.2810 and 11.2550.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 11.3640 and 11.3673). Finally, the EUR/SEK has crossed above its upper Bollinger band (11.3739).

Supports and resistances

11.5120 **

11.4860 *

11.4600 **

11.4340

11.3752 last

11.3420

11.3250 **

11.2810 *

11.2550 **

Number of asterisks represents the strength of support and resistance levels.