FxWirePro: EUR/NOK trades in narrow range, stay bearish
EUR/NOK is currently trading at 9.6538 levels. It made intraday high at 9.6680 and low at 9.6441 levels. Intraday bias remains neutral till the time pair holds key support at 9.6484 mark. A sustained break below 9.6484 w…
It made intraday high at 9.6680 and low at 9.6441 levels.
Intraday bias remains neutral till the time pair holds key support at 9.6484 mark.
A sustained break below 9.6484 will test key supports at 9.6395, 9.6337, 9.6011 and 9.5549 levels respectively.
On the other side, reversal from key support will take the parity higher towards key resistance around 9.6722/9.7025/9.7228/9.7466/9.7867/9.8065/9.8438/9.8855 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
We prefer to take short position on EUR/NOK around 9.6530, stop loss at 9.6680 and target of 9.6395.
