EUR/SEK still seen within 10.20-10.40 – Danske Bank

Pablo Piovano FXStreet

Senior Analyst at Danske Bank Jens Pedersen suggested the cross should remain in a rangebound theme within 10.20 and 10.40 for the time being.

Key Quotes

“In the Scandi universe, we still see EUR/SEK largely a 10.20-10.40 range-play ahead of year-end. The recent drop in EUR/SEK towards 10.30 in our view poses an opportunity to play some (limited) upside via options as a new election looms, Riksbank pricing is vulnerable to global risk sell-offs, and seasonality factors could weigh on SEK”.

“Combined with cheapish vol in the cross, we thus recommended a bullish 2M EUR/SEK call spread. That said, we maintain that rallies above 10.40 in the cross would be an opportunity to go short for a move towards 10.20 into the December Riksbank meeting”.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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