Elliott Wave Analysis: USDNOK Trading In A Big Consolidation
|USDNOK shows evidence of a bearish continuation lower into big wave C shown on a daily chart, so any rallies on lower time frame charts are likely corrective moves as part of a bearish pattern.
USDNOK, Daily
Regarding the 4h chart we are observing an idea of a three wave rise into wave 4, with a possible reversal region around the 50.0 Fibonacci ratio. At the moment we see price trading higher within sub-wave c.
USDNOK, 4H
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