USDNOK looks likely to continue lower after forming a head and shoulders pattern on the 4hr chart.
The weekly chart is in an uptrend however price has recently tested a key area of resistance.
With the USD weakness combined with stabilizing oil prices, the NOK could see further upside pushing this chart lower.
If price retraces to the head and shoulders neckline we can look for potential shorting opportunities down to the key support.
The weekly chart is in an uptrend however price has recently tested a key area of resistance.
With the USD weakness combined with stabilizing oil prices, the NOK could see further upside pushing this chart lower.
If price retraces to the head and shoulders neckline we can look for potential shorting opportunities down to the key support.