USDSEK USDDKK USDNOK - Market Analysis for Jul 23rd, 2021


USDSEK: the ideal target is hit (Option 2 Micro count - my preference here). I look forward to pullback but over 8.46 support region I could not confidently consider the pair topped and extension towards 8.88 region remains a doable scenario so far (though I would not bet much money on that extension).

USDDKK: similar analysis applies here - wave circle c of 4 may be done (the target is reached) - but until 6.19 support region is broken down higher extension is still possible and 6.42 remains an attainable target.

USDNOK: Option 2D count suggests that corrective rally may be already topped - and the pair is heading lower within the wave (5) of the circle A-wave. Below 9.1038 that scenario is a reasonable assumption.

However, Option 2D is just one of possible scenarios and as long as 8.51 level is holding adjusted Option 1D looks quite feasible, imHo. Correction could extend lower with no harm to further move to the upside.

NOK= - Option 2D - Jul-23 0922 AM (1 day)
NOK= - Option 2D - Jul-23 0922 AM (1 day)
NOK= - Option 1D - Jul-23 0924 AM (1 day)
NOK= - Option 1D - Jul-23 0924 AM (1 day)
DKK= - Option 1D - Jul-23 0919 AM (1 day)
DKK= - Option 1D - Jul-23 0919 AM (1 day)
DKK= - Option 2D - Jul-23 0919 AM (1 day)
DKK= - Option 2D - Jul-23 0919 AM (1 day)
SEK= - Option 2D - Jul-23 0917 AM (1 day)
SEK= - Option 2D - Jul-23 0917 AM (1 day)
SEK= - Option 1D - Jul-23 0916 AM (1 day)
SEK= - Option 1D - Jul-23 0916 AM (1 day)
Arkady Yakhnis provides extensive coverage on precious metals, energy, and forex at ElliottWaveTrader.