USD/NOK 4H Chart: Descending Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
USD/NOK started to post lower peaks but at the same time bounce off the support at 6.0632 in early November after a failure to breach the resistance at 6.2250. In the end this behaviour turned out into appearance of the descending triangle.
On Nov 29 the currency pair violated the down-trend resistance line and reached the first target at 6.1366. Subsequently, after a brief pull-back, USD/NOK has found a strong support level at 6.0810, which is likely to initiate a recovery that might extend up to 6.2250. For the time being the four-hour and weekly technical indicators are in favour of a bullish scenario.
© Dukascopy Bank SA

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
Chcete-li se dozvědět více o platformě Dukascopy Bank CFD / Forex, SWFX a dalších souvisejících obchodních informacích, prosím, zavolejte nám, nebo vám můžeme zavolat my.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.