USD/SEK 4H Chart: Triangle

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
On December 26, the U.S. Dollar plunge versus the Swedish Krone seemed to be cogent to make us believe that the bearish breakout has happened. However, after a dive to a two-week low, the pair surprised us by sharply changing direction to the north; the appreciation was fast enough to send the pair back to the pattern's support until the pair approached the apex. The jump above this support zone may be a confirmation that the previous assumption was wrong and the real breakout lies ahead.
© Dukascopy Bank SA
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