{"id":8741,"date":"2010-04-22T08:30:03","date_gmt":"2010-04-22T12:30:03","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=8741"},"modified":"2010-04-22T08:30:03","modified_gmt":"2010-04-22T12:30:03","slug":"forex-technical-analysis-eurnok-wedge","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/04\/22\/forex-technical-analysis-eurnok-wedge\/","title":{"rendered":"Forex Technical Analysis \u2013 EUR\/NOK Wedge"},"content":{"rendered":"<p><strong>By Russell, ForexYard<\/strong> &#8211; The EUR\/NOK has been weakening significantly. As such, the 4-hour  chart displays a falling wedge pattern.<\/p>\n<p>The pattern shows a two converging trend  lines that will eventually come together. Traders can see the downward  slant of the pattern with the price action making contact with both the  upper and lower borders.<\/p>\n<p>Typically wedge patterns signal a continuation of the existing trend.  However, as this wedge pattern runs in the same direction of the trend,  this can be considered a potential reversal of the downward sloping  trend. Therefore, this is a bullish chart pattern.<\/p>\n<p>To trade the pattern, traders will want to wait for a breakout of the  EUR\/NOK of no more than 50 pips above the upper line of the chart  pattern and go long.<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/04\/EURNOK.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/04\/EURNOK.JPG\" alt=\"\" width=\"595\" height=\"571\" \/><\/a><\/p>\n<p><em><strong>Forex Market Analysis<\/strong><\/em> provided by\u00a0<a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\"><strong>Forex                     Yard.<\/strong><\/a><\/p>\n<p>\u00a9 2006 by FxYard Ltd<\/p>\n<p>Disclaimer: Trading Foreign Exchange carries a high level of risk and                     may not be suitable for all investors. There is a          possibility      that     you   could sustain a loss of all of  your         investment and      therefore  you     should  not invest  money  that   you      cannot afford to      lose. You  should  be     aware of   all   the    risks   associated with   Foreign    Exchange   trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Russell, ForexYard &#8211; The EUR\/NOK has been weakening significantly. As such, the 4-hour chart displays a falling wedge pattern. The pattern shows a two converging trend lines that will eventually come together. Traders can see the downward slant of the pattern with the price action making contact with both the upper and lower borders. &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/04\/22\/forex-technical-analysis-eurnok-wedge\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Forex Technical Analysis \u2013 EUR\/NOK Wedge&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-8741","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8741","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=8741"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8741\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=8741"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=8741"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=8741"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}