EUR/SEK
A head and shoulder pattern has formaed on the daily chart after teh failure to clear the resistance at 8,7178 (October 2012 high pivot). In this context, teh pair may continue to decline and test the key short term support at 8,5022. Its break would validate this pattern and would probably signal a return to August 2012 low. In another hand, breaking above 8,7180 would instead prolong the uptrend toward 8,7945 then 8,92. Short – Stoploss @ 8,6850 – Target @ 8,5030.
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Natixis