EURSEK Forecast and Live Chart

The Euro/Swedish Krona currency pair (also referred to as EURSEK and EUR/SEK) is considered an exotic pair. In this article, we will examine how EURSEK is performing.

EURSEK Key Stats

2021 high: 10.3687
2021 low: 9.8636
YTD high: 11.0645
YTD low: 10.2112
YTD % change: +6.8%

EURSEK Forecast

The EURSEK has been steadily rising since the end of 2021, with a couple of significant pullbacks in between. However, the move since August has been pretty much one-way traffic to the upside, with the price now trading around its early-pandemic levels. Both countries’ economies are facing headwinds, but as the euro is seen as more of a safer bet, the upside has prevailed. However, with significant uncertainty ahead (think energy) for both the Eurozone and the Swedish economies, we are currently neutral on this pair.

EURSEK Fundamental Analysis

Fundamental analysis can be a great tool in helping traders ascertain a directional bias for a currency pair by assessing the current condition of the two economies.

Before the pound’s collapse, all eyes were on the euro as it fell below parity against the dollar. Despite its rise against the SEK, it is still below parity vs. the USD. Russia’s halt to gas supplies has heightened fears about a deepening energy crisis, especially over the fast-approaching winter. The euro has had a significant inverse correlation with natural gas prices in recent months. With energy prices rising, the euro has been sinking as Europe continues its attempt for a clean break from Russian supplies. Investors expect further rate hikes by the ECB, with inflation in Eurozone nations continuing to rise.

The Swedish Krona moves heavily on its monetary policy. Its central bank is one of the oldest banks to date. The SEK is also impacted by the currencies of other Nordic countries, such as the Danish Krone or the Norwegian Krone. While the move against the euro may not appear so, with Sweden being a small economy, the SEK is considered a safe haven due to its tech-savvy workforce and numerous multinational corporations. Therefore, any global uncertainties, such as inflation worries or recessions, can cause a rise in the SEK. However, recent years have seen overall weakness for the Krona, despite the country’s central bank raising rates.

EURSEK Technical Analysis

Technical analysis is great for short-term traders, but it is also helpful for long-term traders as well, helping to define entry and exit points in a trade.

The EURSEK is currently trading around levels last seen early in the pandemic after a substantial rise starting in early August. It has since run into some slight resistance trying to breach those highs and is pulling back slightly on the daily chart, looking o form a flag pattern. A key level it may bounce from on the downside is the swing high from March 2022, although the 50 MA also looks as though it will provide some support on a more significant pullback. If traders are looking for a further upside move, areas to potentially target are the most recent swing high and the 11.1003 level.

Trade EURSEK with our top brokers

Broker	Features	Regulator	Platforms	Next Step
Your capital is at risk Founded: 2014	User-friendly platform with great trade-analysis tools Leverage Up To 1:500 Spreads as low as 0.00 pips Quality trade execution thanks to high-spec IT infrastructure $0 minimum account opening balance 26,000 tradeable instruments Not available in all jurisdictions Regulatory infrastructure Read BlackBull Review	FSPR	MT4	Sign Up OPEN FREE DEMO ACCOUNT Read BlackBull Review
Your capital is at risk Founded: 2006 Europe* CFDs ar...	Multi-asset broker offering a wide variety of markets Strong regulatory framework Innovative risk management tools Choice of market-leading platforms Wide spreads on some markets Expiry date on Demo Accounts Read AvaTrade Review	ASIC, FSA, FSB, MiFID	MetaTrader4, Sirix, AvaOptions, AvaTrader, Mirror Trader	Sign Up OPEN FREE DEMO ACCOUNT Read AvaTrade Review
Between 74-89% of CFD traders lose Founded: 2010 Between 74-89 % of retail investor accounts lose money when trading CFDs	Low trading costs Great market flow Research and analysis which helps spot trades Wide range of Copy and Social Trading options Limited range of non-forex markets Read Pepperstone Review	ASIC, FCA	MetaTrader 4, MetaTrader 5, cTrader	Sign Up OPEN FREE DEMO ACCOUNT Read Pepperstone Review
51% of eToro CFD traders lose Founded: 2007 51% of eToro retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.	Social and Copy Trading Platform Beginner Friendly Risk-free Demo Account Top-tier regulation Limited means of raising queries Withdrawal process isn’t really ‘client-focused’ Read eToro Review	ASIC, CySEC, FCA	eToro Platform	Sign Up OPEN FREE DEMO ACCOUNT Read eToro Review
Your capital is at risk Founded: 2009, 2015, 2017	Low minimum deposit Super- tight bid-offer spreads Impressive trading platforms Tier-1 regulators Difficult to contact tech support No Crypto Read XM Group Review	ASIC, CySEC, IFSC	MT4 Terminal, MT4 for Mac, Web Trader, iPhone/iPad Trader, Droid Trader, Mobile Trader, MT5	Sign Up OPEN FREE DEMO ACCOUNT Read XM Group Review
Your capital is at risk Founded: 2006	Very well regulated Comprehensive education section Fantastic customer service No cryptocurrencies Fees could be more competetive Read FxPro Review	CySEC, DFSA, FCA, FSB, SIA	MetaTrader4, MetaTrader5, cTrader, FxPro Edge (Beta)	Sign Up OPEN FREE DEMO ACCOUNT Read FxPro Review

Forextraders' Broker of the Month

BlackBull Markets is a reliable and well-respected trading platform that provides its customers with high-quality access to a wide range of asset groups. The broker is headquartered in New Zealand which explains why it has flown under the radar for a few years but it is a great broker that is now building a global following. The BlackBull Markets site is intuitive and easy to use, making it an ideal choice for beginners.