| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Buy | Neutral |
| Alligator(13;8;5) | Sell | Sell | Buy |
| SAR(0.02;0.2) | Sell | Sell | Buy |
| Aggregate | ⇘ | ⇘ | ⇗ |
The European Common Currency has been appreciating against the Swedish Krona since the beginning of September. This movement has been bounded in the ascending channel.
Currently, the EUR/SEK exchange rate is testing the lower channel line located circa 10.64. From a theoretical perspective, it is likely that some upside potential could prevail in the market. However, note the rate could face resistance formed by the monthly PP at 10.76, thus, the advance might not be immediate.
If the given channel holds, the general direction is expected to remain north in the medium term. It is unlikely that bulls could prevail in the market, and the exchange rate could exceed the monthly R2 at 10.87. Also, it is unlikely that the rate could breach the given south and drop lower than the Fibo 23.60% at 10.47.