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Elliott Wave Analysis: USD/NOK Looking For A 3 Wave Bounce, Or More

Elliott Wave Analysis: USD/NOK Looking For A 3 Wave Bounce, Or More

Good day traders!

One interesting pair that caught my eye is USD/NOK. Here we see a fully unfolded five-wave decline within wave C to 7.6297, with the latest breach above the Elliott wave channel line, which indicates that maybe a change in trend is here, and more gains may follow. We can now expect a minimum three-wave rally to unfold on the pair.

USD/NOK, 4h

usdnok, 4h

Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.

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