EUR/NOK Long-Term Trend: Bullish
Key Resistance Levels: 9.97074, 10.04016, 10.06907.
Key Support Levels: 9.90453, 9.86185, 9.81792.
The price on the higher time frame found support around the 9.90453 NOK level where it reversed and moved higher with the help of an engulfing bullish pattern. The upside movement is expected to continue all the way up toward the next key resistance level around the 9.97074 NOK.
EUR/NOK Medium-Term Trend: Bullish
On the lower time frame, the pair succeeded to break the wedge formation to the upside where a golden cross occurred between the 20 & 50 Moving averages. A lower correction could be seen to the 9.90453 NOK mark before a new impulsive wave toward the target profits.
Buy Limit Order @ 9.90653
TP 1 @ 9.96914
TP 2 @ 10.04016
Stop Loss @ 9.88566
Trade Safely 🙂