Forex – USDNOK: Weekly Scenario

USDNOK Technical Analysis

USDNOK Technical Analysis: Weekly Chart

In the weekly charts, USDNOK is trading in an up channel. It is trading above 20 and 50 days SMA & below 100 days SMA. The immediate support is 8.8558 & the resistance level is at 9.0447.

USDNOK is trading in the up channel until there is a trend reversal

USDNOK Technical Analysis: Daily Chart

USDNOK Technical Analysis

In the daily charts, USDNOK is trading in an up channel. It is trading above all SMA. The immediate support is 8.9324 & the resistance level is 9.0064.

USDNOK is trading in the up channel until there is a trend reversal.  

How to Trade USDNOK this Week:

USDNOK will follow the uptrend until their trend reversal. So, remain bullish on USDNOK.

TRADE SUGGESTION- BUY AT 8.9526, TAKE PROFIT AT 9.0085, AND STOP-LOSS AT 8.8851

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