EUR/SEK 4H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
In addition to limits of the channel up pattern restricting EUR/SEK moves since mid-February, the pair got trapped between its short-and log-term SMAs that locked EUR/SEK in 200-pips wide range. Considering the disposition of the SMAs - 50-bar SMA at 9.0472 is unremittingly moving down to the 200-hour SMA at 9.0262 - we may expect a ‘death cross' to appear before long that usually results in a sharp decline of the instrument. Notwithstanding this, market participants hold bullish view, with almost two thirds of orders being placed to buy the pair.
© Dukascopy Bank SA
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