USD/NOK 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Since January 29, the U.S. Dollar performed a sharp rally against the Norwegian Krone; the advance has been developing within the limits of the 55-bar long tunnel that took the pair to a five-year high of 6.3041 during the last January's session.
Despite a mild retreat after a rise to the recent peak, the pair is expected to gather momentum in the hours to come as 60.42% of all orders are placed to buy the pair, according to the SWFX data. Furthermore, technical indicators point to a possible advance of the pair in the medium term but are sending neutral signals for short and long terms.
© Dukascopy Bank SA
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