Killy_Mel

FX CHART OF THE DAY: USDNOK RANGEBOUND TRADING

FX:USDNOK   U.S. Dollar/Norwegian Krone
USDNOK             has been trading laterally for some time now and no sits right on its weekly (120-h) mean. Volatility (measured by 3.2 st             deviations) is compressing and there is no apparent slope of the mean.

As there are no significant news (calendar events) coming out on the USDNOK             today. traders can pick trades both ways, betting that the price will keep reverting to the mean from its 1st standard deviation

Each new approach to the border of the lateral range is a risk of breakout/breakdown, so traders should not forget putting their stops close to relevant peaks/lows.
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