By Anton Eljwizat
• The chart below is the 4-hour EUR/NOK chart by ForexYard.
• The technical indicators used are the Slow Stochastic, MACD, and Williams Percent Range.
• The Slow Stochastic shows a bullish cross followed by an upward cascade price movement. This suggests that there is momentum behind the current upward correction.
• The MACD indicates an impending bullish cross, signaling that the next move may be in an upward direction.
• The Williams Percent Range shows that this pair was heavily over-sold peaked near the highest mark it could reach, and then turned a corner and now stands in a bullish posture.
• This might be a good opportunity for forex traders to enter the trend at a very early stage and a great entry price.
EUR/NOK 4-Hour Chart
Forex Market Analysis provided by Forex Yard.
© 2006 by FxYard Ltd
Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange trading.
