Possible long-entry in USDNOK
After a massive move down in USDNOK recent days (helped by a stronger/higher oil price), we are currently around earlier support area (8.20-8.22). In that matter, we might see a short-term bounce to retest earlier support area as resistance.
The case is to go long from current levels (8.20-8.22), but only use 50% of desire position as the pair could fall further down to next support area of 8.15. The objective price target in this case is 8.35.
Stop loss should be executed if the pair closes below 8.15 in 4H timeframe.
The case is to go long from current levels (8.20-8.22), but only use 50% of desire position as the pair could fall further down to next support area of 8.15. The objective price target in this case is 8.35.
Stop loss should be executed if the pair closes below 8.15 in 4H timeframe.
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