EUR/SEK 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
As EUR/SEK appears to be unable to break the resistance at 9.2129, there is a high possibility of the selling pressure persisting in the future. If this is the case, the falling resistance line at 9.1850 should act as a ceiling and prevent development of any rallies.
Instead, the price will be expected to fall beneath the recent low at 9.1383 and head towards the lower trend-line of the pattern at 9.1283, which is also the current location of the daily S1 level. At the same time, the SWFX traders' sentiment is in favour of such a scenario, namely depreciation of the single European currency, being that 71% of presently open positions are short.
© Dukascopy Bank SA
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Thu, 03 Jul 2014 07:41:25 GMT

EUR/SGD 4H Chart: Channel Down

EUR/SGD entered a down-trend after a failure to surpass the resistance at 1.77 in March. The pattern is already 500 bars long and is likely to remain intact in the future. Since the mid-June the currency pair has been forming a rising wedge within the bearish channel and has already reached its apex, meaning there should soon be a reversal

Wed, 02 Jul 2014 11:56:09 GMT

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