For several years, the NOK/SEK rate has been moving within a falling wedge formation. Recently, it broke through the lower trend line, and then quickly returned back into the wedge. One of the rules that I use in long-term analysis is: in such cases, there is a very high probability that the rate will break through the second trend line from the opposite side, and this will be a large and fast movement.
1st TP: 1.00;
then pullback,
2nd TP: 1.05;
3rd TP: 1.10
Good luck :)
1st TP: 1.00;
then pullback,
2nd TP: 1.05;
3rd TP: 1.10
Good luck :)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.