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05.08.202212:00 Forex Analysis & Reviews: Technical analysis of EUR/NOK

Relevance up to 05:00 UTC--4
Company does not offer investment advice and the analysis performed does not guarantee results.
The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.


Exchange Rates 05.08.2022 analysis

The chart shows the movement of EUR/NOK (euro to Norwegian krone) in the daily (D1) chart.

This pair may be of interest to those who are ready to open orders for a long period in their trading strategy.

Unlike classic currency pairs, EUR/NOK has increased volatility and large spread. It is currently forming a new trend, with support at 9.85 and estimated target at 10.53.

In the event of a breakdown, quotes will cease to grow.

Good luck!

Andrey Grishaev
Analytical expert of InstaForex
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