USDSEK Head and Shoulders giving an end-of-year sell.

6 ต.ค. 2023

We haven't looked at the USDSEK pair in exactly 1 year but it was that Higher Higher rejection (see chart below) that gave us the best sell opportunity since COVID:

On the 1D time-frame an Ascending Triangle has emerged since and the price has been rejected on the latest September 21 Higher High. We can see the emergence of a Head and Shoulders pattern that is supported on Higher Lows. Similar Higher Lows structures have been formed on long-term peaks, you can even see the resemblance on the 1D MACD sequences.

As a result, if the market closes a 1D candle below the 1D MA50 (blue trend-line), we will see and target a potential contact with the 1W MA100 (red trend-line) at 10.4500.

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