USDNOK: Bullish Momentum Persists
USDNOK: WEEKLY SCENARIO
USDNOK Technical Analysis: Weekly Chart
In the weekly charts, USDNOK is trading in an up channel. USDNOK is currently trading above all SMA.
RSI is in the buying zone which indicates bullishness. MACD is currently above zero which indicates bullishness.
Its immediate support is 10.400 the resistance level is at 11.200
USDNOK will trade in an up channel until there is a trend reversal.
USDNOK Technical Analysis: Daily Chart
In the daily charts, USDNOK is trading in an up channel. USDNOK is currently trading above all SMA except MA(20).
RSI is in the buying zone which indicates bullishness. MACD is currently above zero which indicates bullishness.
Its immediate support is 10.700 the resistance level is at 11.000
USDNOK was traded in an up channel before there is a breakout downside.
How to Trade USDNOK this Week:
USDNOK will follow the uptrend until its trend reversal. So, remain bullish on USDNOK
TRADE SUGGESTION- BUY AT 11.000, TAKE PROFIT AT 11.500 AND STOP LOSS AT 10.200.