EURNOK Forex cross pair is rallying strongly reacting to a prior weekly demand imbalance located around 9.60. There are new buy opportunities at a brand new weekly demand new demand imbalance created slightly higher around 9.66. There is a clear long term long bias, so only longs at new demand levels is possible. Going short is not a good or a wise idea when everything is pointing up. No matter how over-bought any indicators is, the long term bias on EURNOK Forex cross pair is bullish.
The attached supply and demand technical video analysis explains a bit more about EURNOK bias and the strength of the new imbalances being created. Trade with the trend and avoid unnecessary losses by going against an uptrend, going short when everything is pointing up is suicidal.
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