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RobertSoos

USDNOK - H&S formulating

Short
U.S. DOLLAR / NORWEGIAN KRONE (FX_IDC:USDNOK)  
RobertSoos  
FX_IDC:USDNOK   U.S. DOLLAR / NORWEGIAN KRONE
Trend Analysis Head and Shoulders Daily Charts USDNOK
2
0
trendanalysis headandshoulders daily usdnok
Fundamentally I'm NOK mainly because of PPP and Effective exchange rate undervaluation of the NOK. While in the meantime Norges bank will raise rates twice in 2019.

Technically: pretty (maybe too pretty?) H&S

Action:
-wait for daily bearish candlestick form, go short
-target: lower bound of the channel, 200 DMA confluence
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