Indicator | 4H | 1D | 1W |
MACD (12; 26; 9) | Sell | Sell | Sell |
RSI (14) | Neutral | Buy | Neutral |
Stochastic (5; 3) | Sell | Neutral | Sell |
Alligator (13; 8; 5) | Sell | Sell | Sell |
SAR (0.02; 0.2) | Buy | Sell | Sell |
Aggregate | ⇘ | ⇘ | ⇓ |
USD/SEK was dominated by an ascending channel in force since late August. This long-term pattern was breached mid-December, thus following by a period of decline down to the 8.14 mark. This bearish momentum has allayed during the previous week; nevertheless, the pair still remains tended slightly southwards.
The Greenback managed to breach the combined resistance of the 55– and 100-hour SMAs early today. Technical indicators favour further fall within this session and even beyond. Thus, it is likely that the given currency halts near the 200-hour SMA and re-tests the aforementioned shorter-term moving averages.
By and large, the senior channel is expected to hold, thus guiding the pair within the following week or two.