13 Sep 2015
USD/NOK bulls lighting up their positions
An engulfing pattern with reversal implications has been formalized on the USD/NOK weekly chart.
The candlestick pattern indicates that the trend has lost momentum and bearish investors may be getting stronger. The MACD line above zero but swinging lower highs implies dwindling upward momentum for this pair as well.
The candlestick pattern indicates that the trend has lost momentum and bearish investors may be getting stronger. The MACD line above zero but swinging lower highs implies dwindling upward momentum for this pair as well.