• FxWirePro: EUR/NOK back above 9.60 mark, norway’s house price index data in focus

    Source: FxWire Pro - Technicals / 05 Mar 2018 03:29:50   Eastern Standard Time

    • EUR/NOK is currently trading at 9.6124 levels.
    • It made intraday high at 9.6168 and low at 9.5788 levels.
    • Intraday bias remains bullish till the time pair holds key support at 9.5835 mark.
    • A sustained close below 9.5835 will test key supports at 9.5744, 9.5549 and 9.5428 levels respectively.
    • On the other side, reversal from key support will take the parity higher towards key resistance around 9.6292/9.6522/9.6633/9.6880/9.7025/9.7228/9.7466/9.7867/9.8065/9.8438/9.8855 marks respectively.
    • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
    • Norway will release house price index data at 1000 GMT.                                    

    We prefer to take long position on EUR/NOK around 9.6175, stop loss at 9.5750 and target of 9.6522.

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