Tuesday 25 November 2008

Swedish Krone update


Following on from my post below, I have updated the USDSEK chart and continue to view recent price action as being conducive to a substantial pullback. Although the high on 27 October was breached, in doing so a rising trend channel was created followed by a false break higher. This has now led to a push below the channel support. Incidentally The USD index also looks weak so targets between 6.8400 and 6.4400 are still reasonable. I will try and write a Dollar index post shortly.

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