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Euro / Norwegian Krone

Possible Right Triangle Breakout

By lukaszkunatrader
Updated
Currently the price is oscillating between a descending resistance and bottom support that consists of the EMA 50 and Historical Support/Resistance. Pending the downward breakout there could be a bounce off the EMA200 and a retest of the EMA50/Historical Level before a drop to the blue historical level. There is a slight possibility of an upward breakout, but it does not seem likely.
Note
Watching for retest of purple resistance as support, if it holds, trade open with target at 9.58
Chart PatternsTrend Analysis
lukaszkunatrader

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