EUR/SEK 4H Chart: Channel Down

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
Pair is trading somewhat in the middle of the pattern's boundaries. At the moment is retesting 38.2% retracement (13th to 20th of September move) which caused a minor setback in the end of the last week. At that point pair found support with 23.6% retracement which suggests that the Fibonacci levels should have significant impact on the pair in the nearest future as well. As in most of the pairs today, it is difficult to incorporate daily pivots in to analysis. This happens due to rather narrow trading range in the beginning of the week. As a consequence, weekly pivots are used for the time being.  

© Dukascopy Bank SA
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