EUR/SEK 1H Chart: Triangle

Source: Dukascopy Bank SA
© Dukascopy Bank SA
The first days of summer marked the period of elevated volatility of EUR/SEK. Since early June, the currency pair has performed several large swings that shaped a foundation for a 80-bar long triangle pattern.
At the moment, the instrument is on the brink of exiting the pattern given that the apex will be attained later in the day. Speaking about direction of a looming breakout, we may refer to the SWFX data – over 80% of all orders are placed to buy the pair. Technical indicators confirm this view, pointing to a possible rise in both short and long terms.
© Dukascopy Bank SA
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