Weekly Chart
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We identify 9.4227 timed at the week ending April 30 2017 as a point of significance which might come into the picture if the pair bounces off the 9.7428 area which also corresponds to the current whereabouts. 9.7428 will be again technically relevant in July and August 2018, as implied by the crossing of a Gann angle, Gann period square and first Fibonacci Fan Arc as well as a Pitchfork Parallel which collectively point rather strongly towards the significance of the timed area.
Daily Chart
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The pair is trading way above a red cloud with Tenkan sen consistently above Kijun sen and a green cloud produced for future movements. While based on historical movement, the uptrend is coming about rather strongly, the pair's location on the fifth wave suggests a major correction which could mean that the EUR/SEK will not manage to break the 9.9428 level in the nearest future. Adding some more ground to an expectation of a fail at the resistance level is a dark cloud cover pattern on the daily chart.
Hourly Chart
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The daily chart shows a solid uptrend inside of the junior channel with the pair additionally respecting the bounds of the Andrew's Pitchfork, although it has been sticking to the bottom line consistently. A break outside of the hourly rectangle confirms that the junior channel is still in power. We, however, emphasize that the channel is inferior to the strong support level, meaning that we still remain in favour of a bearish reversal, at least in the short term.
Aggregate Technical Indicators
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There are little high impact data releases on the Euro this week, suggesting that technical factors could direct the movements of the currency pair.