USDNOK is positioning for an upside
It is testing the 9.5960 upside reversal resistance after the bounce off 9.1600. For a downside extension and a higher probability of the short trade entries, we need to see a confirmed break below 9.1500. A confirmed break above 9.6000 is required for an upside reversal triangle consolidation breakout to be confirmed. The overall medium-term is owntrend but we need to see a confirmed break below 8.9500 for a downside extension. This could be a trade of a huge upside potential.
Note – We are inclined to long trade entries but only on a confirmed break above 9.6000
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