USD/SEK Forecast June 18, 2015

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USD/SEK Forecast

Chris looks at the upcoming session for Thursday, June 18 in our USD/SEK forecast. It appears to us that the Swedish krona is getting ready to increase in value as a US dollars without a doubt overbought. The volatility after the FOMC meeting on Wednesday certainly didn’t leave the US dollar looking that’s strong, and there are several things on this chart that has us thinking that perhaps we are starting to see Swedish strength.

Several technical indicators

The 200 day exponential moving average is just below the bearish candle that form during the session on Wednesday. However, we are currently forming a bit of a head and shoulders, and have recently broke through an uptrend line that has been very reliable since the beginning of last month.

With this being said, we feel that the US dollar will probably continue to soften against the Swedish krona, as you see in our USD/SEK forecast video. However, we also recognize that one of the most important things about this currency pair that many of you will not trade is that it is part of the US Dollar Index. That particular contract looks as if it is ready to continue breaking down as it is below the 95 handle now. Ultimately, the 93 handle looks like it’s going to offer support, and that we are going to head in that direction.

If the US Dollar Index falls, it should mean that the other currencies in that basket of currencies increase. That of course includes the Swedish krona, although it is the smallest part. One of the major players, the British pound, broke out during the session on Wednesday so therefore we think that is a bit of a “shot across the bow” at the US dollar itself. We believe that this market could possibly make a rather significant move to the downside, and should not be ignored. With the recent pullback in the Dollar, this pair should simply follow suit in this overall move.


The following links will help you in your own research when it comes to the USD/SEK forecast that we provide.


Research links:

Swedish Riksbank

Federal Reserve


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