USD/SEK 4H Chart: Channel Down

Source: Dukascopy Bank SA
© Dukascopy Bank SA
Similar properties to the previous pattern (in the terms of quality and magnitude) are given by the US dollar and Swedish kroon currency pair – quality being slightly above the average whilst magnitude is well above the average. Differently from the EUR/PLN pattern, short and medium term technicals in this case give a rather good indication about the further depreciation of the pair. 1.5 and 4 month lows could cause some turbulence. However, if the pair successfully breaches the earlier one it might gain enough of a momentum to breach the latter one without any difficulties.

© Dukascopy Bank SA

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