USDNOK moving down
Updated
USDNOK has peaked for now, above is weekly chart. At least another week of loss before attempting another high. USOIL moving down from a peak also, USDNOK correlated to oil commodity.
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The news for the softening of USD/NOK came from this article in Reuters, the drop in USD/NOK matches exactly the time this article was published. reuters.com/business/energy/eu-norway-agree-increase-gas-deliveries-russian-cuts-deepen-2022-06-23/
More Norwegian gas flowing to the EU means strengthening of their currency. The proof of this is the exact same movements of EUR/NOK as it was to the USD. So it's got nothing to do with the USD, it has to do with Norway's primary exports.
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We also had on 23rd June the central bank of Norway increase in interest rate up 0.75 instead of 0.5 as expectedTrade active
First opportunity to take profit is nearing at 9.772nd Profit target 9.69
3rd Prodit target 9.55
4th profit target 9.37
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