USDNOK: Ascending Broadening Wedge Partial-Rise Confirmation
USDNOK after giving what has been a very nice performance off of that Bullish Butterfly has now confirmed a Partial-Rise within the Ascending Broadening Wedge it has traded within and now sits just below the 21 and 200-day SMA. We would now expect a heightened chance of the price breaking down and hitting the measured move target down at 9.4 NOK, which so happens to align with the 0.618 Fibonacci retracement.
For reference this is the previous Bullish Setup on the USDNOK before it confirmed the Partial-Rise:
For reference this is the previous Bullish Setup on the USDNOK before it confirmed the Partial-Rise:
