USDNOK is turning from the lower side of an Elliott wave channel line in impulsive fashion and breaking above the upper Elliott wave channel line, which confirms a completed five-wave decline and a low in place.
That said, a minimum, three-wave recovery can now be underway, so be aware of further gains, especially once a correction as b)/ii) fully develops, and finds support at the upper side of the broken Elliott wave channel.
USDNOK, 4h
(Click on image to enlarge)
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