USD/NOK | US Dollar to Norwegian Krone Trading Analysis

USD/NOK | US Dollar to Norwegian Krone Trading Analysis

Written by: PaxForex analytics dept - Thursday, 19 March 2020 0 comments

The price above 200 MA, indicating a growing trend.
The MACD histogram is above the zero lines.
The oscillator Force Index is above the zero lines.

If the level of resistance is broken, you should follow the recommendations below:

  • Timeframe: H4
  • Recommendation: Long Position
  • Entry Level: Long Position 12.0300
  • Take Profit Level: 12.3800 (3500 pips)

If the price rebound from resistance level, you should follow the recommendations below:

  • Timeframe: H4
  • Recommendation: Short Position
  • Entry Level: Short Position 11.5000
  • Take Profit Level: 11.4500 (500 pips)

USDJPY 
A possible long position at the breakout of the level 109.50

EURUSD 
A possible short position in the breakdown of the level 1.0800

USDCHF
A possible long position at the breakout of the level 0.9755

GBPUSD
A possible short position in the breakdown of the level 1.1450