USDSEK 18 Dec 2023 on the weekly timeframe. The pair experienced a bearish trend that brought it down below the kumo cloud on the ichimoku indicator and occupied the price position of 10.25954. If referring to the stochastic indicator, it seems that there has been saturation due to oversold in the previous session, and the chart is also showing strengthening. If the pair is able to continue the bullishness that has been initiated and head towards R2 then go-long could be an option. But if there is a factor that causes the bearish to occur and break R1 then go-short is an option. Keep an eye on market movements and consider all possibilities before making trading decisions.
