USD/SEK 4H Chart: Descending Broadening Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The US Dollar is in the process of confirming a new descending broadening wedge pattern against the Swedish Krona. At the moment, the currency exchange rate is at the pattern's lower trend line at 8.49. Daily aggregate technical indicators forecast that the pair will remain unchanged during the day. However, the forecast shows that the Greenback will gain strength against the Swedish Krona at the end of the week. On its way upwards the rate is set to face many resistance levels, as the pattern's upper trend line is at 8.7770. Due to that there are all of the weekly resistances, monthly and weekly pivot points, first weekly support level and all of the simple moving averages used in analysis conducted by Dukascopy Bank.
© Dukascopy Bank SA
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