ACROFX
Long

What comes down most go up? USDNOK potential long

FX:USDNOK   U.S. Dollar/Norwegian Krone
19 0 0
After a massive rally in oil             and risk-on mode, USDNOK             did fall quite well and to levels before the latest Policy meeting in Norway (Norges Bank).

We should see great support around 8.05-8.03 area. In this matter, and with a possible bottom, the price should retrace some of the recent fall, which could give potential target of 8.20 and 8.30.

Case: Long from 8.08-8.10 area with a stop loss if 4H chart closes below 8.05.
Target 1 = 8.20 and Target 2 = 8.30

Play safe!


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