AutoChartist Rapport Forex (Eur) 15.10.2018
The EURSEK pair has broken its upward channel on a 4 hour time frame. The lower line of this channel may act as a resistance now. However, the price has bounced from its minor support level and there was a minor piercing of the Bollinger band at that level. The piercing of a Bollinger band does have a significant importance when this occurs at an important level of support or resistance because this could reverse the trend from that specific zone.
The RSI is trading in line with the price action which means that the bias could be to the upside.
Important Levels
Support Level
8.529-8.471 Minor
8.308-8.248 Major
Resistance Zone
8.900-8.844 Minor
9.162-9.097 Major
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