USD/SEK 1H Chart: Ascending Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Although resistance at 0.9520 appears to be strong, the outlook on USD/SEK is bullish. The demand for the US Dollar is growing, as evidenced by every new low appearing above the previous one. Accordingly, if the up-trend at 0.95 is not violated in the nearest future, which in turn will imply a sell-off down to 0.94 (weekly PP and 200-hour SMA), the price should soon close above 0.9520 and set course toward 0.9560. This scenario is also reinforced by the technical indicators, especially on the four-hour time-frame. In the meantime, an overwhelming majority of the SWFX market participants is bearish with respect to the Buck: 72% of open positions are short.
© Dukascopy Bank SA
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Tue, 24 Feb 2015 14:40:04 GMT

EUR/AUD 4H Chart: Ascending Triangle

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