USD/NOK 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Since November 25, the U.S. Dollar has been enjoying a solid support coming from upbeat data releases from the domestic economy. Strong fundamentals allowed the U.S. Dollar to appreciate against the Norwegian Krone and to form a channel up pattern that now is 145-bar long and is likely to be prolonged given a moderately bullish sentiment in the market; 55.56% of traders expect USD/NOK to advance further. Meanwhile, technical indicators solidify the trades' view, sending bullish signs for short and long terms.
© Dukascopy Bank SA
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