| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Buy | Sell | Sell |
| RSI (14) | Sell | Neutral | Buy |
| Stochastic (5; 3) | Sell | Sell | Neutral |
| Alligator (13; 8; 5) | Buy | Sell | Sell |
| SAR (0.02; 0.2) | Buy | Buy | Sell |
| Aggregate | ⇒ | ⇘ | ⇘ |
The US Dollar was trading in a long-term falling wedge against the Swedish Krona prior to breaching this pattern on Monday. The strong downside momentum had allayed for the past two weeks and, consequently, the pair entered a consolidation phase.
It seems that the last up-wave which started at a two-and-a-half-year low at 7.8976 is about to change the overall market sentiment to bullish in the long term.
However, it is expected that the rate might still go for a minor correction downwards this week. Full retracement down to the upper wedge boundary is unlikely, setting the bottom target somewhere near the 7.96 mark where the 200-, 100– and 55-hour SMAs are located. Subsequently, the pair should surge back to the monthly PP at 8.026 and eventually push even higher.