EUR/SEK – Eyes rising trend line support

9 Eyl 2016

Despite pair’s rebound from around 50-DMA level yesterday the subsequent failure at 10-DMA and a retreat below 5-DMA amid bearish daily MACD and bearish 5-DMA and 10-DMA crossover suggests the pair is heading back to 100-DMA support at 9.48 and may actually breach the same for a drop to rising trend line support at 9.43.

Also note the evening start formation on the daily chart.