USDNOK WEEKLY SCENARIO – 28 February 2022

Technical Analysis

USDNOK Technical Analysis: Weekly Chart

Forex Trading

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 8.7775 & the resistance level is at 9.0442.

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

USDNOK Technical Analysis: Daily Chart

Forex Trading

In the daily charts, USDNOK is trading in an up channel.

It is trading above all SMA.

The immediate support is 8.8570 & the resistance level is 8.9330.

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 8.8939, TAKE PROFIT AT 8.9330 AND STOP LOSS AT 8.8570

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