| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Sell | Buy | Sell |
| RSI (14) | Neutral | Neutral | Neutral |
| Stochastic (5; 3) | Neutral | Sell | Sell |
| Alligator (13; 8; 5) | Sell | Buy | Sell |
| SAR (0.02; 0.2) | Sell | Buy | Buy |
| Aggregate | ⇘ | ⇗ | ⇘ |
EUR/SEK was trading in a medium-term ascending channel in force since mid-August. After reaching the 9.66 mark, the Euro began to move southwards, thus forming a narrow falling wedge. The senior patter was breached on Wednesday when bears continued to pressure the rate lower.
Currently, three factors point to a possible appreciation within the remaining trading week. First, the rate should make a retracement from the lower channel boundary circa 9.55/56. Second, this falling wedge is a minor correction against the dominant bullish trend; thus, the rate should break out from this pattern to the upside. Finally, technical indicators also point to a possible recovery, demonstrating that the upside momentum might even go beyond the lower channel line.
The Euro faces several significant resistances, namely, the 55-, 100– and 200-hour SMAS, the weekly S1 and the monthly PP in the 9.5500/9.5857 area. One of these lines are likely to provide an unbreakable resistance.