in ANALISA by hafid zaini

7640832 7/12/2017 5:13 PM, NOK/SEK intraday: the RSI is overbought


Our pivot point is at 1.0160.


Our preference

: the upside prevails as long as 1.0160 is support.


Alternative scenario

: below 1.0160, expect 1.0130 and 1.0110.


Comment

: the RSI is trading above 70. This could mean that either the pair is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the pair is above its 20 and 50 MAs (respectively at 1.0156 and 1.0143). Finally, the NOK/SEK has crossed above its upper Bollinger band (1.0182).


Supports and resistances

:

1.0270 **

1.0250 *

1.0230 **

1.0220

1.0183 last

1.0170

1.0160 **

1.0130 *

1.0110 **