USD/SEK 4H Chart: Triangle

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
Even taking into account a lack of liquidity and low trading volumes before Christmas, USD/SEK represent a great opportunity for traders. The main reason behind this suggestion is the fact the pair is trading in boundaries of triangle pattern, which soon will be completed. Market sentiment, however, is not clearly marked, as 54% of traders are holding short positions. Nonetheless, vast majority of pending orders are placed to buy the pair, ready to provide additional support for bulls. The pair is currently stuck for a movement at 200-period SMA, and in case it is breached, the next target will be a pattern's resistance at 6.5875.
© Dukascopy Bank SA
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