Shuael's Blog

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EUR/NOK prediction 1st of July

Weekly chart:
On the weekly chart i draw the long term channel in which the price is trading.
I also pointed out the last 3-4 candles where the price couldn't push higher.
I epxct a down move.
Daily chart:
On the daily chart i draw the possible scenario considering the trading channel and the support zone
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EUR/NOK Prediction for the 1st of June

Weekly chart:
On the weekly chart i draw the supporta zone which the price should respect and move to previous highs.
Daily chart:
Considering the weekly chart i draw thye possible scenario.
I expect the price to respect the support level and move up till the resistence zone i draw.
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EUR/NOK down to 8.3384

General:
The pair is in a fase of retracement after an uptrend, i think it will continue
Expected rate of the pair for 1st of April: 8.3384
Support: 8.5740; 8.2632
Resistence:
[b]On the weekly chart:

[/b]On the weekly chart i used fibonaci retrecements in order to individuate some important points
On the daily chart:
On the daily chart i draw the possible movement of the price
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EUR/NOK down to 8.0881

General:
The pair one month ago reached a very important resistence level, from which it started a retracement.
Expected rate of the pair for 2nd of March: 8.0881
Support: 8.0881; 8.2008; 8.5442
Resistence:
On the weekly chart:
On the weekly chart you can see that the price break the previous resistence level around 8.5442 which now can become :
- A support level from which the price will go back up
- A support level which will not affect the retracement of the trend.
I think that it wont
On
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