Quarterly Outlook
Macro Outlook: The US rate cut cycle has begun
Peter Garnry
Chief Investment Strategist
Technical Analyst, Saxo Bank
EURNOK is currently testing the lower trendline in the rising channel like pattern. A close below will be indicating bearish trend in EUURNOK to resume.
A close below 11.27 combined with an RSI close below 40 threshold will confirm that scenario
A bearish move down to 11.10 could be unfolding.
A close above 11.50 will demolish that likely scenario
EURSEK was rejected at the resistance at around 11.40 and could soon be testing support at around 11.15A close below will quite likely push EURSEK to once again testing the key support at around 11.00. A close below is likely to fuel further selling down to around 11.72
A close above 11.50 will establish a bullish trend with upside potential to 11.75-11.85.