EUR/SEK outlook remains very favourable – Natixis

Research Team at Natixis, suggests that the EUR/SEK outlook remains very favourable, as an ascending channel is still in evidence in both the daily chart and the weekly chart.

Key Quotes

“The breakout above the resistance at 9.73 (around the December 2014 high) also supports our bullish sentiment. Under these conditions, a test of the resistance around 10-10.02 (upper band of daily Bollinger) is on the cards.

A breakout above this psychologically all-important resistance would point to an acceleration of the uptrend towards 10.13 (half-yearly parabolic) before 10.26 (Fibonacci projection) and the resistance at 10.3820 (upper band of half-yearly Bollinger).

Take advantage of any pullbacks towards 9.85-9.87 to buy the EUR/SEK, with as first targets 10-10.02 (setting the stoploss below 9.73).”