thejtrain

thejtrain

The long-term trend line says it's up, having touched the trend line this afternoon. However, there is also a short-term down channel formation.

thejtrain

USD/NOK has recently broken its long-term uptrend, to now being in a long-term downward pattern. However, from its current position will it move back up to the 0.718 level or back down to the 0.5 level? Let's look at 2 different ideas: (1) If you look at purely technicals alone, going with the long-term trend, one would have to say back down to the 0.5 level. (2)...