Indicator | 4H | 1D | 1W |
MACD(12;26;9) | Buy | Buy | Buy |
RSI(14) | Neutral | Neutral | Neutral |
Stochastic(5;3;3) | Neutral | Neutral | Sell |
Alligator(13;8;5) | Neutral | Buy | Buy |
SAR(0.02;0.2) | Buy | Buy | Buy |
Aggregate | ⇗ | ⇗ | ⇗ |
The USD/SEK currency pair has been going upwards since the middle of January when the pair reversed from the lower boundary of the long-term ascending channel at 8.8600.
As apparent on the chart, the exchange rate has already surpassed the Fibonacci 0.00% at 9.2487. From a theoretical point of view, bulls should prevail in the market within following sessions until the upper channel line located in the 9.8000/9.9500 is reached.
However, the pair has to surpass the resistance level formed by the monthly R3 at 9.4036. If given channel holds, it is likely that a short-term decline occurs in the nearest future.