As the market has for some time now trading sideways/range mode, USDNOK should offer a nice exit from 8,60 level down to possible support around 8,40.
After the announcement from Brexit, USDNOK never managed to close and break resistance above 8,60 which now act as great barrier for the pair. In that matter, the risk/reward should be great for a short trade.
Trade setup. Short from 8,57-8,60. Stop if the pair closes above 8,61 on daily timeframe. Target 1 is 8,45 and target 2 is 8,40.
Play safe :)
After the announcement from Brexit, USDNOK never managed to close and break resistance above 8,60 which now act as great barrier for the pair. In that matter, the risk/reward should be great for a short trade.
Trade setup. Short from 8,57-8,60. Stop if the pair closes above 8,61 on daily timeframe. Target 1 is 8,45 and target 2 is 8,40.
Play safe :)