USD/SEK 4H Chart: Channel Up

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
Following a few tests of the bottom trend-line, USD/SEK continued its climb inside of a channel up pattern, currently floating in the middle, but eyeing the upper trend-line for future tests. The market calmed soon after the movements gained amplitude upon the announcement of a Trump victory, but experts stand at a weaker Swedish Krona for an extended period of time. A surge will be attacked by 9.0979, 9.1269 and 9.2022 before the upper trend-line at 9.2254/2362 is reached. A junior channel-like formation has been formed over the last week or so with a single outbreak on the Election Day, suggesting that the pair could respect the boundaries and reach the top with the help of the pattern.
© Dukascopy Bank SA
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