EUR/SEK 4H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
During the last 129 bars the single currency has been depreciating against the Swedish Krone. The pair started to head to the south after touching 8.90 on June 24, more than a month ago. In a shorter term pair's outlook would be bullish, taking into account aggregate technical indicators on 4H chart and the number of opened positions, as they contribute 62% of all opened positions. In a longer term, however, the pair is likely to resume following the downtrend and will continue channelling downwards. This fact is supported by aggregate technical levels on Daily charts, which are suggesting further depreciation.
© Dukascopy Bank SA
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