This is a potentially nice long term position trade setup. Once this pair closes and forms a low above 8.50, it will be extremely likely to see continuation to eventually reach the target on chart or even higher. Fundamentals for Sweden are not looking good currently, and the yield in this pair might be a big driver for this uptrend. Pairing the Swedish Krona with other high yielding currencies might prove specially rewarding for long term traders (AUDSEK, NOKSEK, CNHSEK).
If interested in my trading signals, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year.
Cheers,
Ivan Labrie.
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Even though this idea failed, we can now safely long this pair. Can even use the same stop loss.
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Patience was rewarded, I hope you reentered with me.