Friday, September 21, 2012

EUR/NOK intraday: rebound


Our pivot point stands at 7.429
Our preference: rebound.
Alternative scenario: below 7.429,expect 7.42 and 7.415.
Comment: the RSI is above50. The MACD is negative and above its signal line. The MACD must break above its zero level to trigger further gains. Moreover, the pair is trading above its 20 MA ( 7.4367) but under its 50 MA (7.4549).

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