MTP Trade #7 2019
Sell EUR vs SEK @10.5760 or higher
Product type: FX Spot
Trade in Demo portfolio: Sell 200,000 EUR vs SEK
We recommend selling EUR VS SEK and selling EUR vs NOK.
The EURSEK and EURNOK FX crosses are both trading at the top of their ranges going back to last summer.
The positioning in the crosses leads us to believe that there are many traders sitting with long NOK and long SEK positions that have been fighting the market for some time.
In spite of the perceived positioning, we suggest buying both NOK and SEK at these levels as we feel the technical setup gives us a defined stop level which we can trade against.
Any questions, give us a call!