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EURSEK remains bullish despite retreat from 8-year high
EURSEK has advanced considerably after hitting a four-month low of 9.7435 on January 31, eventually recording an eight-year high of 10.2442 last week. The pair has since lost some ground from March 7’s multi-year peak, with the retreat possibly coming on the back of an overstretched market – the Chikou Span seems to support this view. Still, the decline was unable to alter the short-term positive bias, with the Tenkan- and Kijun-sen lines remaining positively aligned. Price advancing might meet a barrier around the current level of the Tenkan-sen at 10.1880, with stronger bullish movement turning the attention to ... (full story)