Thursday, September 20, 2012

EUR/NOK intraday: the downside prevails as long as 7.446 is resistance


Our pivot point is at 7.446.
Our preference: the downside prevails as long as 7.446 is resistance.
Alternative scenario: above 7.446, look for 7.456 and 7.461.
Comment: the RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the pair stands below its 20 and 50 MAs (respectively at 7.4462 and 7.459).

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