USDSEK Bearish break-out imminent.

8월 12일The USDSEK pair is testing the Internal Higher Lows trend-line of the 2-year Channel Down pattern, below both the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line). Having made its last Lower High just above the 0.786 Fibonacci level (similar to the previous Lower High), it is technically expected to break the Internal Higher Lows trend-line and extend to a new Channel Down Low towards the end of the year.

As you can see the structure of this pattern is very symmetrical and with the last Lower Low being just above the -0.186 Fibonacci extension, we expect the next to be at 9.7500 at least.

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