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USD/NOK In 3-wave Move Down: Elliott Wave

Published 09/12/2019, 09:58 AM
Updated 07/09/2023, 06:31 AM

Hello fellow traders,

USD/NOK is dropping out of a five-wave move which found a top at the 9.163 area. Current decline can now be labelled as part of a three-wave move, which can take price towards the 8.788 area in upcoming sessions. That said, but first we expect to see a minor retracement into a wave b/ii correction; possible resistance/turn near 9.04/9.07 region.

USDNOK, 4h

4-Hour USD/NOK

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