| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD (12; 26; 9) | Buy | Buy | Sell |
| RSI (14) | Neutral | Sell | Neutral |
| Stochastic (5; 3) | Neutral | Sell | Sell |
| ADX (14) | Buy | Buy | Sell |
| CCI (14) | Neutral | Sell | Sell |
| AROON (14) | Buy | Buy | Buy |
The Euro has been depreciating against the Swedish Krona since the middle of October. This movement has been bounded within the falling wedge pattern.
As apparent on the chart, the exchange rate has already reversed south from the upper pattern line at 10.74. From a theoretical point of view, it is likely that some downside potential could prevail in the market, and the rate could continue to decline within the given pattern.
However, note that the currency pair is pressured by the 55-, 100- and 200-hour moving averages. Thus, it is likely that the pair could breach the given pattern south within the following trading sessions. A possible downside target is the Fibo 38.20% at 10.48.