Anakiin

USDNOK - Short Setup

Short
FX_IDC:USDNOK   U.S. DOLLAR / NORWEGIAN KRONE
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4
USDNOK looks overextended with finally signal of deceleration with a reversed red hammer high test at the 0.5 Fib retracement at multiple key levels:

1) resistance at around 8.36
2) 50-60 EMA rejection
3) 200-250 EMA rejection
4) Downsloping trendline from July 27, 2016
5) 0.50 Fib Retracement

We have also Stock RSI in overbought status on daily and a clear MACD Divergence on 1 hr time frame

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