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EURNOK topped out at Nok9.8165, before.....>

EURO-NOK
EURO-NOK: EURNOK topped out at Nok9.8165, before meeting hourly resistance from
May 14 & the 50% retracement of Nok9.8534-9.7841. The cross recently charted a
bearish engulfing candle and rests on the upper boundary of the 1% Bollinger
band, suggesting the potential of a short-term reversal. Expect support at
Nok9.7800/20 which has registered a series of previous lows, a break opens the
38.2% retracement of the Apr-May rise at Nok9.7541, ahead of the 100-dma at
Nok9.7277. Last Nok9.8117.  

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