EUR/NOK 1H Chart: Channel Up

Source: Dukascopy Bank SA
© Dukascopy Bank SA
The Euro/Norwegian Krone cross is nearing the lower trend-line of the upward channel. It means that shortly we are going to see some purchasing activity and the common European currency is likely to resume growing in value. Additional support will be offered by the 200-hour SMA, which is currently coinciding with the green boundary of the pattern and daily S2. On top of that, SWFX market sentiment assumes the Euro remains oversold in 74% of all cases, and this fact backs the bullish case even more. However, hourly and 4H technical indicators are pointing to the South. In case the 9.60 mark is broken, the first bearish target will become the weekly S1 and Feb 10 low at 9.55/54, followed by weekly S2 at 9.4277.
© Dukascopy Bank SA
Back to articles

Actual Topics

Mon, 15 Feb 2016 14:46:06 GMT

GBP/USD 4H Chart: Triangle

The Cable has build a perfect triangle pattern in the four-hour chart. It is the rare case when the currency pair managed to fill into the triangle by almost 100%. Despite that, our expectations for the long-term are broadly bearish with respect to the Pound Sterling. In case of a descent below the 200-period SMA at 1.4453, the pair will

Mon, 15 Feb 2016 08:08:05 GMT

USD/NOK 4H Chart: Channel Down

The value of the Dollar failed to rise above nine kroner last month, and now the US currency is in a distinct down-trend. The channel implies that USD/NOK will bounce off of 8.60 and thus will start a new bearish wave. However, we have a strong case against the decline. The reason to be bullish is the 18-month rising support

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.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
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.