USDSEK 11 Jan 2023 on the H4 timeframe, it can be seen that the pair is still ranging between R1 and R2. Despite being above the kumo cloud on the ichimoku indicator, the pair continues to experience an up and down position even though it is still between R1 and R2. If referring to the stochastic indicator which shows that the pair is entering a saturated zone due to oversold, it is possible that a trend reversal will occur after the pair touches R1. Therefore, go-long can be an option. But if this pair fails to reverse the trend and continues to bearish through R1, then go-short is an option.
