EUR/SEK: Large bullish triangle to provide a platform for a move to 11.3650 – Credit Suisse

EUR/SEK has formed a large bullish triangle. With this bullish pattern in place, analysts at Credit Suisse expect the pair to move higher toward 11.3650. 

Move above 10.9799 to expose 11.0436

“EUR/SEK has recently confirmed a large bullish triangle continuation pattern, which we think likely sets the market up for a significant move higher over the next few months.”

“We look for an eventual move above 10.9799 to expose the 78.6% retracement of the 2020/21 decline at 11.0436. Thereafter, should we see a convincing break here as well, we would see no reason not to look for a further ascent to the 2020 high at 11.3650.”