EURNOK - Watch for a possible swing Long entry

FX:EURNOK   Euro / Norwegian Krone
26 0
Daily: Ichimoku likely started to develop a medium to long term strategic short bias, but as I wrote in my last post, by now Price has reached a key support/resistance zone, and also the longer term bullish trendline is close.
MACD and Slow Stoch turning up, so it's not impossible that we see some kind of pull back to 8,2350 - 8,2700 levels.

4 Hrs: Consolidation below Kumo. DMI zig-zag , ADX dropping, so the bearish momentum is lost for now. Tenkan and Kijun are flat, Chikou Span hit Price candles. The trendline matches the 100 WMA and the Kumo bottom. Slow Stoch rather a buy with positive divergence to flat price action. Key level to enter counter trend long (and final stop for those who are still short) is 8,1865.

p.s.: the more pairs I look at against the EUR, the most I have the feeling that we will see some EUR recovery during next week. Not sure, but chance is increasing.


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