Kumowizard

For how long can NOK be this neutral?

FX:EURNOK   Euro Fx/Norwegian Krone
35 0 5
e room within the daily triangle is getting extremely tight. That means quite soon we'll see a breakout. Let's see the -bearish and bullish arguments.

Weekly:
- Ichimoku is neutral, with some bearish bias: a thick Kumo cloud shades price ahead. Price is below Kijun and Tenkan/Kijun has been weak bearish for a while.
- Heikin-Ashi is absolutely neutral: we had 5 doji weekly candles in a row. haDelta/SMA is stuck ard zero line.
- Lower key zone is 9,16-9,22 (horizontal line, 100WMA and Senkou B), upper key level is 9,40-9,42 (Kijun)
- EWO has seom bearish bias

- In case price can't break bck above 9,42, we may have a H&S like pattern development in progress. Obviously this idea
would be valid only with a brek below the potential neckline 9,15. Below that we still have 8,90-9,00 resistance the major trendline to fight with.

Daily:
- Ichimoku setup is neutral with bearish bias. We also have a medium strong bearish Tenkan/Kijun cross!
- Price is stuck in a triangle. The pattern is pretty much similar to the one we've seen in March-April.
First key is 9,25! If price breaks below the bullish trendline, we can have a leg down to 9,10-15
Upper key levels are: 9,35 / 9,40
- Heikin-Ashi is neutral
- EWO has bearish bias

I prefer to hold small short, with max stop at 9,42.

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