Possible short-entry in $USDNOK
After the recent peak around 6.45, the pair has lost momentum after last weeks Policy meeting in Norway. A rate-cut due 2014 is out of the question and we should expect a stronger Norwegian Krone (NOK) upcoming weeks and months.
Since last weeks sell-off, the pair has today retraced 61.8% of the move down and we should see a possible turnaround from current levels (below 6.40 area). Short USDNOK belove 6.40 (currently at 6.38+). Target is 6.20 and stop should be executed if the pair closes above 6.45.
Since last weeks sell-off, the pair has today retraced 61.8% of the move down and we should see a possible turnaround from current levels (below 6.40 area). Short USDNOK belove 6.40 (currently at 6.38+). Target is 6.20 and stop should be executed if the pair closes above 6.45.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.