EUR/SEK 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Pair has recently bounced from the pattern's support, but recovery is much more volatile than anticipated. Especially taking in to account that the pairs 1100 pip move from the pattern's resistance to the support took 4 hours. It might be that some bears are trying to trade on the momentum and bulls perceive the pair highly undervalued. Such uncertainty is rather well reflected in the market sentiment—71% of traders re already short (hoped for momentum gains) and pending orders are perfectly distributed between the long and short traders (trading on the expectations of the short term gains). 20-day SMA might be fuelling some volatility as well.

© Dukascopy Bank SA
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