- setup is . Price below Kumo and Kijun Sen. For confirmation we need Price break a bit lower, sending Chikou Span into open space after its break below the past Kumo.
- Heikin Ashi has been showing undecision for more than 2 weeks now. Green, red and candles changing each after. Today candle is , with haDelta turning down again. We need to see longer body candle and haDelta firm dip below zero line for continuation.
- Lower resistance is ard 8,55. A break and close below opens space to minimum 8,4250 (my original tgt ), but likely to even lower
- Price is swinging around a thinned Kumo. Range is even more obvious here between 8,55-8,65. We have a medium strong Tenkan/Kijun cross today, and Chikou Span is about to make a strong cross below past Price candles too. (this would be a strong confirmation for more move)
- What makes it more likely for continuation is the change in DMI/ADX setup. has been extremely low for some time now, but with today's price action finally the DMI cross has more chance to widen further.
- Heikin Ashi setup is obviously more now. For confirmation we should see next candle to close below 8,55. From then on every spike you can add to existing shorts.
EURNOK has a lot more room if wants to catch up.
I don't think Norges Bank will be as "dovish-like" as the Riksbank is trying to be. At least not at these FX levels. The other fundamental question is the Oil and the Norvegian Oil industry.
But you know what? forget about mixing fundamental thinking with Technical analysis! Do what the chart and Price action suggests!