Pattern: Bullish Megaphone. Signal: Bullish on the support. Target: 8.8700 (Resistance on the high volatility level).
Pattern: Channel Up on 1D. Signal: Bullish. The Higher Low patterns are identical and deliver a strong upside when spotted. Target: 9.00000.
Who is trading this anyway?
=> Here we are tracking the Riksbank meeting on Wednesday with hikes expected to come in either December or February. => We expect December to remain on the cards and continue supporting a bullish SEK tone. => On the Swiss side, as you all know from our previous ideas Swiss investors positions in foreign assets remain largely FX hedged so there is little concern...
CHFNOK is in the process of completing a Higher Low on the 1W Channel Up (RSI = 57.467, MACD = 0.092, Highs/Lows = 0.0650, B/BP = 0.0984). This can be a lengthy (15 session) process but eventually should reach the previous Higher High. We are long with TP = 8.7500.
Long CHFNOK @ 8.05; TP @ 8.21, SL your choice
If CHFNOK is breakingdown and EURSEK breaking out, SEKNOK should breakdown too. (NOKSEK to go up)
Reasons To Long: Ascending Triangle Breakout High Bullish Volume Make Lower Highs Strong Support Rising About To Change The Trend Indicators Turning Bullish Outer Trendline Breakout Do Join Our Daily Live Trading Webinars As Webinars Free Of Cost To Watch. attendee.gotowebinar.com In Order to stay Connected And Recieve Premium Features From 2smart2trade Logon...