Kumowizard
Short

Is the bullish trend close to end?

FX:EURNOK   Euro Fx/Norwegian Krone
87 0 0
Weekly:
- BullishIchimoku setup, but Price got far above the 9,00 equilibrium level, should retest Kumo
- Lower supports are: 9,15 (Tenkan Sen), 9,00 (Kumo and Kijun Sen), 8,60-8,70 area as strongest trend support
- Heikin Ashi candle this week seems ti print an inside body and no higher high. haDelta crosses below SMA3. Bullish momentum slowed as Price could not close above 9,40-9,50 resistance area for second week.

Daily:
- Ichimoku setup is bullish , but as 5th Elliot wave might have been completed, so we have to watch 9,20 closely! We have Kjiun Sen and trend support there. If those break now, or later in A-B-C wave, that will be a beginning of a bearish move.
- Heikin Ashi signal is bearish . Please note that haDelta/SMA3 failed to move back above zero line, they made a bearish cross below. This suggests more possible bearish bias ahead.
- It still may be just a Kijun Sen retest, and Price can go up again, but it will be very important to see if it makes a higher high from here or not.

I slowly started to increase my strategic NOK             exposure again. No rush, don't chase, play it slowly according to your system reuirements (entry signal, stop, position size)

You can also check historical charts for GBPNOK             and NOKSEK             . Really interesting, and makes me question if NOK             really has to be this "cheap" compared to all other G10?
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