EURSEK has been forming a double top pattern since last week with additional confluence of rsi divergence and has started trading lower. If the sellers can gain momentum and break the neckline area we could be looking at a very good short opportunity.
Today, EURSEK broke its short-term upside support line and traveled lower. In addition to that, the pair dropped below the 10.782 support zone, marked by the low of May 10th.
This creates a slightly more bearish atmosphere around EURSEK, at least for the short run.
Please see the chart for levels and potential targets. This is just an idea, so you decide what...
EURSEK is stuck. As you can see, the pair is still trading above its steep tentative upside line. But at the same time the rate is struggling to push above the 10.740 barrier. For now, we will stay put and wait for a break through one of our highlighted areas, before examining a further directional move.
Even if the aforementioned upside line gets...