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EUR/NOK warns of a stronger rally attempt

A well bid EUR/NOK elevates the ADX above its 50 level, signal of a highly constructive trend on 1hr charts.

What makes the higher settlement in the ADX rare -although not unprecedented- is the fact that it was printing below 35 ten hours ago.

Such an outperformance encourages momentum traders to pile in, and adjust positions by means of trailing stops. This may have the opposite effect of a corrective slide, driving the prices towards the 200-hour SMA to find less impulsive buyers.

USD/MXN jumps above 19.00, to 6-day highs

The Mexican peso is falling more than 1% on Thursday against the US dollar. The greenback is posting mix result in the market: while it falls...
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AUD/JPY momentum switched to negative

AUD/JPY momentum switched to negative
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