I had given a vague head and shoulders pattern that suggested a long that was visible on the daily chart. The stochastic indicator which usually affirms the directional bias in some cases for me was not in agreement. So I had to dig deeper rather than just relying on the said vague head and shoulder and am convinced EURSEK will go down to 9.33 BEFORE trending LONG.
The exact pattern (completed pattern) can be found on the EURJPY weekly chart. The fib ratios are the same, the difference is that the pattern on the EURJPY is inverted.
The exact pattern (completed pattern) can be found on the EURJPY weekly chart. The fib ratios are the same, the difference is that the pattern on the EURJPY is inverted.