Market watch – $USDNOK 10-12-2016

Every week a new trading opportunity !

On our market watch today is the USDNOK. After a huge break downside of important levels 8.0300 and 7.9670 the pair is making a retrace, and if we look at the swing down July-Oct 2016 38.2% is sitting just at 8.2403 and is lined up with broken wedge trend line and a falling LT trend line. Invalidation of this downtrend would be only in a case of 200 SMA break 8.3720 level.

Recommended trade size 10.000 units 0.1 mini lot, or adjusted to your risk profile and money management.

Preferred trading strategy along with the trend is selling at the end of the day with SL at 8.34000 targeting 8.0300 or lower with a trailing stop.

Happy trading! (click on the chart to enlarge it)


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