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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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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