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EUR/NOK currency pair analysis 02.02.2022

02.02.2022

Market Review

The descendant wave structure is truncated. Awesome Oscillator indicates bullish divergence, and Stochastic Oscillator signals oversold conditions.

Trade idea:

Buy when the ascendant wave structure starts forming, where a wave (A) breaches through the inclined channel of the descendant truncated structure.

Stop-loss below the local minimum of the descendant truncated structure.

Target levels: 10.042; 10.200.

Author: GC
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