17 Oct 2016
SMA cross injuring EUR/NOK
The bearish offensive in EUR/NOK has resulted in a cross of the 50-period below the 200-period SMA.
The signal emerged on 4-hour charts further deteriorating the near-term EUR/NOK price structure. While conservative sellers will wait for a close below recent support as a confirmation of a forthcoming lower low, more aggressive participants will expect a re-test of the crossover level to prove benevolent for continued downside.
The signal emerged on 4-hour charts further deteriorating the near-term EUR/NOK price structure. While conservative sellers will wait for a close below recent support as a confirmation of a forthcoming lower low, more aggressive participants will expect a re-test of the crossover level to prove benevolent for continued downside.