USDNOK has now tested trendline established since early 2016, where the last touch point was due Brexit. The recent move upward has been on declining volume and created a negative divergence which supports a possible failure of breaking resistance @ 8,50.
In that matter, this pair should offer a nice risk/reward for a short play.
Trade-idea:
Short entry between 8,45-8,50
Stop-loss if we close above 8,52 on a daily timeframe
Target 1: 8,30
Target 2: 8,20 (if Target 1 is reached, move stop down to 8,40 on a daily timeframe.
Play safe!
In that matter, this pair should offer a nice risk/reward for a short play.
Trade-idea:
Short entry between 8,45-8,50
Stop-loss if we close above 8,52 on a daily timeframe
Target 1: 8,30
Target 2: 8,20 (if Target 1 is reached, move stop down to 8,40 on a daily timeframe.
Play safe!