If we look at big picture in USD/SEK, we see that Swedish krona has been moving in Mark-up phase since March 2014. It was a very persistent bull market without any reaction to the uptrend. As the price was reaching resistance level of previous high, the nature of movement was changed and mark-up phase was replaced by distribution phase. Price formed a resistance at 8.8000 level. It is well known that people think in round numbers and place limit orders, stop losses in this point. Here is some tip: Avoid round numbers when placing your stops – market-makers will know where your stops are. Above and below any actively traded market are not hundreds, but thousands of stops. The professional traders will gun for these stops, especially during periods of thin trading activity, as this represents an excellent moneymaking tactic.
In daily chart it is well seen that the price is moving sideways limited by levels of support and resistance. The rally was stopped when supply has entered the market (several weak signals on the chart). Nature of bullish trend was changed in this point and price started to move in a trading range. Watch carefully when the price is coming close to the support or resistance. Weak or strong signals in Analytical Trader will help you to understand whether the price will break these levels or not.