26 Nov 2016
Harami pattern defies USD/SEK uptrend
A harami cross pattern spotted on the USD/SEK weekly chart chart indicates a trend change from bullish to neutral.
Prices challenged the 21-period 2 standard deviation upper band by printing outside of its boundaries in the last two weeks. The bearish pattern also happens in the context of a 14,3,3-parametrized stochastic tracking above 80. This oscillator could easily react with any future close near the lows, specially after last week's open and close prices formed a doji line on the chart.
Prices challenged the 21-period 2 standard deviation upper band by printing outside of its boundaries in the last two weeks. The bearish pattern also happens in the context of a 14,3,3-parametrized stochastic tracking above 80. This oscillator could easily react with any future close near the lows, specially after last week's open and close prices formed a doji line on the chart.