EUR/SEK 1H Chart: Double Top

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
The EUR/SEK currency pair will be on the way to form triple top pattern on an hourly chart, if lower trend-line of current pattern is able to withstand bearish pressure. Just recently, it bounced back from second top at 9.1692 and is now heading down. However, on way to the south the single currency will face a number of very strong support levels, while each of them has a good chance to send the pair trading back to the upside. This particular idea is shared by short and mid-term technical indicators, as they send mild bullish signals at the moment. Daily ones, however, predict the currency to lose value in the long-term, and they are supported by SWFX traders in 72% of all cases.
© Dukascopy Bank SA
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