USD/NOK 4H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The US Dollar is surging against the Norwegian Krona simultaneously in two ascending channels. The short term channel is a representation of the pairs rebound against the medium term channel's lower trend line. Meanwhile, on a larger scale the currency exchange rate is fluctuating in an almost horizontal channel, which is only slightly tilted to the downside. Most recently the rate began its approach on the medium channel's resistance line, which means a test of the resistance might occur during this week. That would be consistent with the SWFX market sentiment, as 66% of open positions were short. Due to that the market sentiment indicates that there is still room for a surge until the equilibrium closes in on the pair.
© Dukascopy Bank SA
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Wed, 21 Dec 2016 09:28:18 GMT

USD/JPY 4H Chart: Channel Up

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