EUR/SEK 4H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
An appreciation of the common currency against the Swedish Krone started in mid-September; however, the pair commenced to shape a channel up pattern only in early November when it managed to expedite the pace of its advance. Now the pair is on the downside, retreating from the pattern's resistance it touched several days earlier. Technical data suggests the pair is likely to continue declining in the nearest term; however, indicators are neutral for longer time frame.
© Dukascopy Bank SA
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