We are trading the highs of a multi decade monthly channel, I am expecting a significant reaction with flows entering into Fed positioning mode for a 25bp cut later this month.
Rather than SEK strength a reaction move to the downside here will come from dollar devaluation from Fed intervention. For those still holding EURSEK longs the divergence will be telling as EUR out performs USD over the coming months and quarters.
Rather than trading based on this chart the purpose is to build a full model from the Long-term to the intricacies in the Short-term. I will also be uploading a USDSEK weekly and daily chart today.