Technical Analysis – USDSEK capped by 100-day SMA and 50.0% Fibonacci; possible formation of a head and shoulders pattern

USDSEK buyers are attempting to push above 9.6020, which is the 50.0% Fibonacci retracement of the up leg from 9.2390 to 9.9630, and where the 100-day simple moving average (SMA) resides. The bull’s efforts to halt further losses could be in vain, as a head and shoulders pattern appears to near completion, with a close […]