Autochartist has recently identified the Uniform Triangle chart pattern on the daily EUR/SEK charts. The overall Quality of this Triangle is rated at the 5 bar level as a result of low Initial Trend (2 bars), significant Uniformity and Clarity (rated at the 8 and 7 bar levels respectively). Higher Uniformity reflects the even distribution of the connecting points of the upper and the lower trendlines of this chart pattern. The bottom of this Triangle (point C on the chart below) formed when the pair reversed up from the strong support area close to the major level of support 8.7300 (which had reversed the two-year long sharp downtrend in the February of the last year, as is shown on the second chart below). The pair is expected to rise further in the nearest time.
The following weekly EUR/SEK chart show the previous price action close to the major level of support 8.7300:EUR/SEK" title="EUR/SEK" width="587" height="583">