EURNOK crossroad setup - breakout or fake out
The EURNOK has completed a Donchian shift from the lower to the upper channel.
The price is breaking out of the 9.81 resistance as well as of typing this. HOWEVER, the breakout will only be confirmed with a successful close outside of the level.
The 150 SMA is waiting for the price just a few points higher.
If the breakout succeeds and if the price can stick to the outer Donchian channel, we might see the origin of a new trend emerging.
Still a while to go for the potential breakout and if the price turns around, we might face a range bound market for a while. The EUR is not particularly strong as of now either.
The price is breaking out of the 9.81 resistance as well as of typing this. HOWEVER, the breakout will only be confirmed with a successful close outside of the level.
The 150 SMA is waiting for the price just a few points higher.
If the breakout succeeds and if the price can stick to the outer Donchian channel, we might see the origin of a new trend emerging.
Still a while to go for the potential breakout and if the price turns around, we might face a range bound market for a while. The EUR is not particularly strong as of now either.
I have been trading for 15 years!
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> Trend Rider indicator: tradeciety.com/trend-rider-indicator/
> Free weekly trading webinar: tradeciety.com/webinar/
> Free blog: tradeciety.com/blog
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