FX CHART OF THE DAY: USDSEK MEAN REVERTION DOWN RISK
USDSEK is breaking through the 1st standard deviation from weekly (120-h) mean after a leg of uptrend from above.
Price is likely to revert to is weekly mean for volatility recharge before going further.
Traders can pick shorts around the upper first st deviation (at 8.70) and with target at the mean (8.65). Stops should be placed above relevant highs (at 8.76)
Price is likely to revert to is weekly mean for volatility recharge before going further.
Traders can pick shorts around the upper first st deviation (at 8.70) and with target at the mean (8.65). Stops should be placed above relevant highs (at 8.76)