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USD/ZAR 4H Chart: Double Bottom

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Feb 9, 2016.

  1. Sandra S.

    Sandra S. Forum Member

    Sep 1, 2015
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    USD/NOK 4H Chart: Channel Down Comment: Although USD/NOK appears to have formed a bearish channel, we are highly unlikely to see Dollar’s depreciation beyond 8.50 kroner. The reason is that the currency pair is closing in on the major rising support line that is drawn through the Aug 2014 and May 2015 lows. Accordingly, our base case scenario is a rally through the red trend-line at 8.65. This will imply a test of the 8.77-8.74 area. However, considering the density of the supply zone, it may

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