justatrader

USDNOK - Post GDP Release

Short
FX:USDNOK   U.S. Dollar/Norwegian Krone
Norway's GDP readings have come in better than expected. Y/Y @ 3.9% and Q/Q @ 0.3% up from 1.1% and -0.2% respectively and both beating estimates.

On H4 charts, the retracement to 5.96074 looks like a prime target to short from targeting 5.83130 (for now).

Alternatively, wait for the resistance to be confirmed at 5.96 and sell at the most recent lows in the run up.
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