EUR/SEK 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
A drop to a two-month low in the very end of December was a starting point of the channel up pattern formed by EUR/SEK on the one-hour chart. The pair has been trading within this corridor for about 165-hours already but it still did not manage to erase all losses it faced before it followed the upside trend.
Now the currency couple is trapped by its 200-hour SMA and pattern's support that are blocking the upside and at the same time preventing the breakout that was highly possible after a recent slide to a two-week low.
© Dukascopy Bank SA
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Mon, 13 Jan 2014 09:35:49 GMT

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