USD/SEK Showing Relative USD Strength

15. October 2015 · Write a comment · Categories: EDGE Chart of the Day · Tags: ,

For a USD pair, the USD/SEK is showing some relative strength compared to other USD pairs this week. It’s worth noting as it has been a leading indicator for the DXY from time to time over the years.

10-15-15USDSEK

Here is the USD/SEK weekly chart. Notice how the weekly candle is attempting to create a “Hammer” formation at the range lows.

10-15-15DXYUSDSEK

Here is the USD/SEK (candle) and DXY (blue line) weekly charts. Notice how the USD/SEK surged many weeks ahead of the DXY in early 2014

 

Blake Morrow

Chief Currency Strategist, Wizetrade

 

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GBP/AUD cracking some key support

06. October 2015 · Write a comment · Categories: EDGE Chart of the Day

Since the GBP/AUD tagged major resistance back at the end of August (read this post) the pair looks as if it cracking some major support on the daily chart. Take a look below:

10-6-15GBPAUD

With other GBP commodity pairs like the GBP/CAD and GBP/NZD falling, it looks like this may be a group effort.

 

Blake Morrow

Chief Currency Strategist, Wizetrade

 

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