USD/NOK Trading Analysis (20/11/2024)
The trend is up. The pair is trading between 365 and 135 EMAs. The bearish inner wave structure is truncated. There is a bullish divergence on the Awesome Oscillator and the Stochastic Oscillator signals an oversold condition.
Trading idea:
- Buy on the formation of the ascending wave structure when wave A breaches the 11.002 level (pivot 2 of wave C of the truncated structure).
- Stop-loss at 10.9460.
- Price targets at 11.1100 and 11.1680.
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