EUR/SEK 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
We have observed a rapid appreciation of the Euro against the Swedish Krone that started in mid-June; the advance was so sharp that the pair managed to attain the highest level since at least 2011 of 9.2130 only 10 days after the climb has started.
Meanwhile, EUR/SEK now is sitting close to the lower limit of the pattern and considering the disposition of the SMAs – 50-hour SMA at 9.1611 is on the verge of plunging below the 200-hour SMA at 9.1575 – we may see a bearish exit. Technical indicators also point to a possible decline in the next one-to-four hours but send a ‘buy' signal for a longer term.
© Dukascopy Bank SA
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Wed, 02 Jul 2014 11:56:09 GMT

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