USD/NOK has sold off to its 61.8% retracement at 10.30 and is expected to recover from here, in the opinion of analysts at Commerzbank.
Key quotes
“USD/NOK has held over 10.3941 for the last 3 trading days and we note the 240 minute chart is suggesting that this is also the end of the 4th Elliott wave count.”
“Recovery from 10.30 implies that the bull trend remains intact and that the market is capable of retesting the 12.12 recent high.”
Share
