| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Buy | Neutral |
| Alligator(13;8;5) | Sell | Sell | Buy |
| SAR(0.02;0.2) | Sell | Sell | Sell |
| Aggregate | ⇘ | ⇘ | ⇒ |
The US Dollar has been appreciating against the Swedish Krona since the beginning of November. This movement has been bounded within the rising wedge pattern.
Currently, the currency pair is testing the lower pattern line at 9.6000. From a theoretical perspective, it is likely that some upside potential could prevail in the market, and the pair could reach the upper pattern line located circa 9.7800. If the given pattern holds, it is likely that the general direction is expected to remain north in the medium term.
However, note that the exchange rate is pressured by the 55-, 100- and 200-hour moving averages, currently located in the 9.6389/6.6686 area. Thus, the rate could breach the given pattern south. Important level to look out for is the monthly S1 at 9.4868.