Chart of price change CAD/SEK

Currency pair CADSEK represents the exotic financial instrument which shows a ratio of the Canadian dollar and Swedish krona. In the CADSEK pair the Canadian dollar represents base currency, and Swedish krona — quoted. The CADSEK quotes show how many Swedish krona it is necessary to spend for the purchase of one Canadian dollar.

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CAD/SEK penetrates valid uptrend line
CADSEK, D1 Sell Profit: 226 pips RoR: 9%

The pair has succesfully penetrated it's medium term valid uptrend line and is heading towards it's 61.8 fibo retracement at 6.23 levels. short positions should be opened with take profit at 6.2345 and stop loss at 7.0040.

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Canada and Sweden are two advanced states where the economy is developed at the highest level. Canada is one of the largest exporters of oil, that mean the currency pair CADSEK directly depends on world oil prices.

Sweden is the advanced state and differs in high economic rates as in the territory of Sweden there is a lot of minerals. Choosing this trading instrument for trade in the Forex market, the trader should pay attention to economic indicators of Sweden, and also to the change in oil prices.

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