USD/NOK 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Since Christmas USD/NOK has been trapped by two upward sloping lines that have locked the pair in a wide range of more than a thousand pips. The pair has been vacillating in the corridor for more than 364 hours already and is likely to remain within the boundaries of the channel up pattern in the foreseeable future since market players are bullish on the pair; about 58% of them hold long positions. Technical data also verifies this view, with indicators sending bullish signals for the medium-term.
© Dukascopy Bank SA
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