Categories: Technical analysis

EURNOK Wave Analysis – 19 December , 2018

  • EURNOK rising inside sharp impulse wave (3)
  • Further gains are likely

EURNOK rose sharply in the last few trading sessions – breaking through the two successive powerful resistance levels – 9.8750 (monthly high from February) and 9.800 (monthly high from September).

The breakout of these resistance levels strengthened the bullish pressure on EURNOK – which accelerated the active medium-term impulse wave (3) from the start of December.

“EURNOK is expected to rise further and re-test the next round resistance level 10.00 (target price for the completion of the active impulse wave (3))” – the FxPro analyst commented.

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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The FxPro Tech Analysis Team
Tags: EURNOK

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