13 Jul 2015
EUR/SEK MACD indicates downside pressure
FXStreet (Barcelona) - The failure of MACD to test recent highs indicates that EUR/SEK could be facing downside pressure soon.
Over the past two weeks, it has become evident that a bearish divergence between EUR/SEK spot and the MACD has developed, which typically implies weakness ahead. Additionally on a 4-hour chart, we can see that the MACD line pushed below its signal line, a further bearish forewarning.
Over the past two weeks, it has become evident that a bearish divergence between EUR/SEK spot and the MACD has developed, which typically implies weakness ahead. Additionally on a 4-hour chart, we can see that the MACD line pushed below its signal line, a further bearish forewarning.