Update from the previous chart for USDNOK , we see three patterns confirming the target of 5.83530,
20/05: Norway GDP release forecast 1.34%. Prev 1.1% y/y | forecast 1.52%. Prev -0.2% q/q
22/05: Unemployment rate. Its been stable at 3.5%, so any downside reading could pose some threats to this trade.
Inflation data is due on Monday... So by Thursday i hope to see some kind of retracement back to 8.2 or 8.0 before the drop towards 7.95. But just speculation for now. Will have to take a look closer to the dates.
If the current bearish action is anywhere close to entry, i'd suggest a partial or a full close depending on the no. of $$'s in profit or loss. Wait till the GDP is released... it looks like the actual print could be better than the estimates.