USD/SEK coming close to key resistance. Reversal expected!

USDSEK approaching Key resistance at 9.68780. This resistance level is also the long term high.

Entry: 9.61815

Why it's good : 9.61815 also corresponds to 161.8% Fibonacci extension level where price normally gives a reaction.

Stop Loss : 9.68780

Why it's good : A close above this price, Market would have surpassed the long term high and forming a new "All-time high". This shows then that the bulls would have taken control and further upside would be expected.

Take Profit : 9.59540

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The material has been provided by InstaForex Company - www.instaforex.com