The Norwegian currency reversed from a multi-year low. Last year’s price action broke two key S/R. The pale grey trend channel as well as a double top around 9.60. NOK bulls might want to monitor an actionable 3-wave pullback on the pair. It will likely lead to a long-term appreciation in the Norwegian currency.

Another exciting aspect is the financial position of Norway. The country is wealthy and its debt situation is not comparable to the US and Europe.