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Uncharted-FX

USDSEK Breakout Loses Steam after All Time New Highs.

Short
U.S. Dollar / Swedish Krona (FX:USDSEK)  
Uncharted-FX  
FX:USDSEK   U.S. Dollar / Swedish Krona
Support and Resistance Candlestick Analysis Rectangle USDSEK USDNOK USD dollar Forex forexsignals forextrading DXY
9
0
supportandresistance candlestick rectangle usdsek usdnok usd dollar forex forexsignals forextrading dxy
Like what I am seeing here on USDSEK. We broke out above into all time new highs, however the momentum did not continue. You can see we fialed to make another higher low. There was a battle between the bears and the bulls at the 9.8600 zone. @ hour chart shows the level better:

snapshot

We have had a nice break and close below this support level, and am targeting 9.7625 zone below.

Some nice confluences. Showing exhaustion, at a major level (break out/resistance zone) and a nice strong red candle break.

The USDNOK is also showing an interesting set up too. Just awaiting the break:

snapshot
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