FxWirePro: Norwegian krone erases previous gain against euro, stabilizes above 9.13 mark
EUR/NOK is currently trading at 9.1322 levels. It made intraday high at 9.1334 and low at 9.0729 levels. Intraday bias remains neutral till the time pair holds key support at 9.0950 marks. A sustained close below 9.0950 …
It made intraday high at 9.1334 and low at 9.0729 levels.
Intraday bias remains neutral till the time pair holds key support at 9.0950 marks.
A sustained close below 9.0950 will test key supports at 9.0760, 9.0650, 9.0382, 9.0285, 8.9960, 8.9701, 8.9556, 8.9375, 8.9227 and 8.9011 marks respectively.
On the other side, a consistent close above 9.0950 will take the parity higher towards key resistances at 9.1334/9.1463/9.1685/9.2023 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
We prefer to go short on EUR/NOK around 9.1320 with stop loss at 9.1685 target of 9.0760/9.0650/9.0382.
