Tue, 06 Oct 2015 06:22:34 GMT
EUR/NOK 1H Chart: Channel Down
The channel was formed after the currency pair broke out of the rising wedge to the downside. However, we should not be deceived by the bearish outlook implied by the currently emerging pattern. This situation highlights the importance of analysis of the higher time frames. In this example, in the daily chart EUR/NOK approaches a major up-trend, which is more