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AUD/NZD 1H Chart: Channel Up

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Jan 6, 2016.

  1. Sandra S.

    Sandra S. Forum Member

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    USD/NOK 1H Chart: Channel Up Comment: USD/NOK is in a good position to rally. Since the last week of December the currency pair has formed a high-quality channel, and at the moment it is trading right at the lower boundary of the pattern. Accordingly, the price is likely to surpass the January 5 high and then probe the resistance trend-line at 9.07. The longer-term bullish outlook is also confirmed by the sentiment (72% of positions are short), although the technical indicators are mixed.

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