More NOK & emerging markets weakness

EUR/USD: The first attempt lower was hindered just a few points below the figure. In the hourly both the decline and the following rise has occurred in three corrective wave hence indicating that a bull (as we entered the congestion from beneath) triangle might be in the making. As such more meandering between 1.3500 and 1.355 expected for another day before making an attempt to exit north, aiming at the low 1.36’s. Thereafter (or if falling below 1.3498) the mid body point at 1.3440 to be visited.

Read the full report: Technical Alert

 

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