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As EUR/SEK appears to be unable to break the resistance at 9.2129, there is a high possibility of the selling pressure persisting in the future. If this is the case, the falling resistance line at 9.1850 should act as a ceiling and prevent development of any rallies.
Instead, the price will be expected to fall beneath the recent low at 9.1383 and head towards the lower trend-line of the pattern at 9.1283, which is also the current location of the daily S1 level. At the same time, the SWFX traders' sentiment is in favour of such a scenario, namely depreciation of the single European currency, being that 71% of presently open positions are short.
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