Fri, 20 Dec 2013 11:53:00 GMT
EUR/SEK 1H Chart: Channel Down
Although at first it may have seemed that the sell-off initiated on Dec 13 was simply a retracement of the up-move started at the beginning of the current month, the decline appears to have developed into an independent down-trend, considering that the 200-hour SMA has already been violated.Right now, being that the exchange rate is fluctuating just beneath the upper