USD SEK: online exchange rate chart and forecasts from Masterforex-V

Swedish krona (kr, SEK) is one of the TOP 10 popular currencies among forex traders. Despite the fact that Sweden has been in the European Union since 1995, it is still in no hurry to join either the eurozone or even the transitional system ERM II (European Exchange Rate Mechanism). The USD SEK currency pair shows the price of the dollar in Swedish kronor. Thus, the rate of 9.39 in June 2021 for USD/SEK means that one dollar today costs 9.39 Swedish kronor.

What does the USD SEK exchange rate depend on?

The Swedish krona dollar (USD SEK) exchange rate does not depend on forecasts and published news, but on the movement of the American dollar index . Therefore, when

• in the bullish trend of the USD index, a bull market for USDSEK is formed in the forex market;
• if there is a bearish trend in the USD index, a bearish movement in USDSEK will be formed.

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The best indicators for forecasting the Swedish krona exchange rate

In reality, the USD SEK rate moves from one level of accumulation of market maker to the next, as shown in the chart from the closed forum of the Masterforex-V Academy. Look how MF divides the levels into strong and minor. Additionally, it is recommended to install FREE proprietary indicators from the Masterforex-V Academy - these are AO_ZOTIK (Zotik) and the WPR_VSMARK oscillator). Example

Agree that this makes it easier to understand the logic of the Swedish krona exchange rate, and almost not difficult. And we used only four tools out of more than 30 proprietary MFs that are used in professional training in Forex and the Exchange at the MasterForex-V Academy.

Dollar Swedish krona exchange rate on the stock exchange and myths on the Internet

95% of articles on the Internet about the Swiss krone exchange rate were written by analysts and copywriters , but not by real traders in the foreign exchange market. Otherwise, there would be no such opinions as about the impact on the USD SEK exchange rate

• index quotes of the OMX Nasdaq Nordic Exchange or Dow Jones 30. Compare the rates of the NASDAQ OMX Nordic 120 and the Swedish krona dollar to understand how far journalists are from reality;
• inflow/outflow of capital from national exchanges or news that came out “better” or “worse” than the forecast made by the same analysts;

USD SEK exchange rate, and published “news”, each of them “lives its own life”

The real impact on the USD SEK exchange rate is exerted only by the volumes of purchase (Buy) or sale (Sell) of dollar currency futures on the Chicago Mercantile Exchange CME . For details, I refer you to the article Fundamentals of Volume Theory. For example, a strong movement (impulse) of USD SEK, as a rule, depends on the growing volumes of bullish (or bearish) market players, and a correction is a decrease in volumes, or changes in these volumes.

For dollar futures:

However, even here not everything is as smooth as we would like. Read the article how CME exchange data gives 50/50 tips for traders: Masterforex-V about the disadvantages of volume analysis in the Forex market through CME futures (Chicago Mercantile Exchange).

Trends in USD SEK

Trends for the USD SEK currency pair, as well as for other currency pairs (EUR USD, GBP USD, USD JPY, etc.) are divided into:

• LONG-term (these are usually timeframes from D3, W1 and MN), which last from several years and “live” from one trend reversal pattern to another (such as the classic Triple and Double Top or Bottom, “Head and Shoulders” or “Spike” pattern "; etc.) at the same wave level (according to Elliott theory and MasterForex-V know-how), which are preceded by divergence on the charts.
• MEDIUM-term trends that run on timeframes from H4/H8 and last from a week. These trends are characterized by movement from one level of accumulation of market maker orders to another (see figure above). According to Masterforex-V, a real or false breakout, or a rebound from such levels gives a forecast for the next week, and this is confirmed, as a rule, by the formation through a flat of one of the trend continuation figures - rectangles, flags, triangles, etc.)

USD SEK rate on the Forex market: is it worth buying this currency pair?

We are sure that if we ask which market is open during the working week, the largest in the world of finance and where residents from all countries take part in trading every day - you know the answer! Yes, this is the Forex market, the largest money market in the world, and it is this market that shows changes in the finances of global trading.

If you are just starting to work in Forex online, you will be confused by the large number of definitions, currency pairs and indices. It is better to buy and sell foreign currencies if you have knowledge about currencies in pairs. After all, in order to buy and sell a currency, you need to understand information about how one currency relates to another in a pair. The value of the base currency on the currency counter is determined by the quote of the two currencies in the currency pair.

You are probably already asking yourself the question: which currency pair to choose for purchase and sale? We will not give a definitive answer because we do not know your personality as a trader, and this is crucial. Therefore, in order to accurately understand which Forex pairs are best to trade, you must take the time to determine your strategy and, accordingly, analyze the various pairs.

It is believed that the leader in prevalence, the strongest and most dominant currency is the US dollar. There is one reason for this - the US economy is the largest in the world in size.

The USD/SEK currency pair is included in the currencies of the “Majors” group. The prevalence of euros in dollars is due to the fact that the pair is based on two economies: Europe and the United States of America. More than half of the total trading volume worldwide on the Forex market is the USD pair. Trading in this particular currency pair is common where the euro is the base currency, and the counter currency is the US dollar.

The setting of currency pairs is determined by an international encryption, or code. For example, a USD/SEK currency pair with a quote of 1.25 means that one SEK costs 1.25. The base currency in this example is , and SEK is the opposite currency. In the same way, any other currency pair is quoted on most world markets.

The exchange rate of the USD currency pair is influenced by monetary policy and the US government. As elsewhere in the world, events (administrative announcements, newly enacted laws and regulations, or fiscal policy) can increase or decrease the value of both the US dollar and the other currency in any pair. Another organization that forms the exchange rate of the USD currency pair is the Central Bank of Europe, which maintains the stability of the value of the euro.

The ECB sets and implements monetary policy for the euro area (including interest rates), carries out currency transactions and manages the foreign reserves of the European System of Central Banks. In addition to these two, other currencies can also influence the USD pair, forming the following pairs: GBP/USD, USD/JPY, AUD/USD, USD/CHF, NZD/USD, USD/CAD, GBP/JPY and EUR/JPY.

The USD exchange rate is very sensitive to periods of interest rate changes. Thus, the US dollar begins to rise when interest rates in the US increase. Likewise, when interest rates rise in the eurozone, the euro usually rises as well.

Despite the historical exchange rate of USD, it can be seen that it has suffered huge volatility. Due to massive capital flows, the euro-dollar exchange rate can appreciate or depreciate significantly, even by up to 30% per year.

We look at the USD SEK Chart and track changes

What is happening with the USD pair today? If you look at the USD SEK Chart, you will see that in the morning, after yesterday's drawdown, the euro has strengthened against the dollar. The USD SEK rate today stopped at 1.123.

Yesterday, after seven weeks of lows against the currency basket, pending negotiations between the US and Mexico, the US dollar finally began to rise. And while the immigration issue is being resolved, talk of resuscitating the European central bank has upset speakers on the USD currency pair.

It is clear that the USD began to rise due to the weakness of the dollar, when the Fed had already shown a desire to change its strategy in order to prolong the economic expansion. But it is worth remembering that the derivatives market in July 2021 will see a decline in deposit rates by 10 bp, consumer prices in May fell from 1.7% to 1.2%, and core inflation to 0.8% y/y. All these factors force the ECB to voice its opinion about downside risks for the economy of the European zone. Based on this, you can predict USD/SEK Cashback.

If the Governing Council does not provide any fundamental changes in the news, then we can expect a renewed attack by the USD bulls. And if they can keep quotes above today’s rate, then growth is predicted for the USD currency pair.

Trading and earnings in dollars/Swedish krona

We do not know a single earning trader who trades only the USD SEK currency pair . Why? Because most of the time (up to 4/5 of the time) currency pairs form complex flat-like movements in their rates, and only 1/5 of the time the currencies are in a trend, which brings profit.

Therefore, professional traders of the Masterforex-V Academy prefer to work on different, and not on ONE market (on different currency pairs of the Forex market, futures, stock, commodity or cryptocurrency markets) - wherever there is a trend, which in one month can be in Swedish kroon, in another - for shares and stock (exchange) indices, in the third month - for cryptocurrencies: Bitcoin and Litecoin, etc. and so on.

According to the statistics of our Rebate - autocopy service pro-rebate.com, it is clear that only by working in DIFFERENT markets can you earn those 300% -700% in a few years. Agree that not a single stock, bond or ETF, as well as mutual funds, will provide similar returns for investors.

Recommended brokers for trading and investing in Swedish krona

The largest selection of instruments for trading on VARIOUS markets is available from the British forex broker FxPro , which is included both in the number of recommended brokers from Rebate - the autocopy service pro-rebate.com, and in the TOP 5 rating of brokers by the Masterforex-V Academy.

The FxPro.com trading terminal has over 280 instruments to work with, including:

• more than 140 currencies;
• more than 120 stocks - “blue chips” of the USA, France, Germany, etc.;
• stock indices, incl. American Dow 30, NASDAQ-100, and S&P 500, British FTSE 100 (#UK100), Polish Poland 20, etc.

The broker provides

• trading platforms for traders Meta Trader 4 and Meta Trader 4 Mobile with already built-in indicators and oscillators for technical analysis of charts (AO_ZOTIK and WPR_VSMARK must be installed separately);
• trading account from $100 (and take into account the fact that according to MF money management, the minimum recommended deposit is $800-$1000 when trading 0.01 lots);
• various leverage from 1:30 to 1:500;
• permission for all types of trading strategies from advisors to day trading, swing trading, scalping, etc.

When opening a real trading account from $3000 with FxPro, a trader receives the opportunity to study for free for 1 year at the Masterforex-V Academy.

Pair options. Recommendations

The greatest profitability of working with this asset is provided by binary options on a pair. As a binary options asset, USDSEK is excellent for accelerating a deposit in the short term and for stable earnings when working on higher time frames. As already noted, this is not the most popular currency, so you need to make an effort to find a broker that offers options on this pair (24option gives good conditions for contracts with USDSEK).

Among the main recommendations for trading USDSEK is the use of trend-following strategies (for example, the Razor strategy), since the pair often continues a sudden movement. For options with a long expiration period, forecasting greatly facilitates fundamental analysis, simple observation of changes in economic indicators in the USA and Sweden (interest rates, unemployment rate, etc.).

You should not take risks by trading options on USDSEK intraday; high volatility and many false movements make forecasting much more difficult. It is advisable to work with this pair on at least a four-hour chart.