Daily: Looked like, but finally couldn't close below the trendline. Some blame the drop of Oil for keeping NOK still moving sideaway and let it gain more power. I think it is rather the positionning, or lack of positionning what causes this annoying consolidation.
Price is still trading within a triangle. It is below the Kumo, retested Kijun Sen and the Kumo. Tenkan is still below Kijun, but both a bit flat. Future Kumo lines flat. MACD, DMI and Slow Stoch don't give us sufficient information right now. Well, in fact they do give information: that is this mkt is not trending, but consolidating!
Important levels are: 8,2050 / 8,2600 on the top side, 8,1550 and 8,1000 on the lower side.
One more interesting observation is if during last 5 months the price action has been building a major Head and Shoulders formation? What's more, it looks like a double top within the Head! Really interesting formation I must say. On a break down from this the measured tgt comes to ard 7,8000 - 7,8500.
I still prefer holding startegic shorts in this cross, with not yet much leverage though.
Price is still trading within a triangle. It is below the Kumo, retested Kijun Sen and the Kumo. Tenkan is still below Kijun, but both a bit flat. Future Kumo lines flat. MACD, DMI and Slow Stoch don't give us sufficient information right now. Well, in fact they do give information: that is this mkt is not trending, but consolidating!
Important levels are: 8,2050 / 8,2600 on the top side, 8,1550 and 8,1000 on the lower side.
One more interesting observation is if during last 5 months the price action has been building a major Head and Shoulders formation? What's more, it looks like a double top within the Head! Really interesting formation I must say. On a break down from this the measured tgt comes to ard 7,8000 - 7,8500.
I still prefer holding startegic shorts in this cross, with not yet much leverage though.